If the government places a price ceiling on cancer-treating drugs, then
A. The supply of cancer-treating drugs will increase.
B. There will be no change in the number of people who die from cancer.
C. Fewer cancer treating drugs will be available.
D. Fewer people will die from cancer.
Answer: C
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Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. D; B C. A; B D. B; C
Assuming there is a rise in supply of copper, if the market for copper is allowed to adjust, the ultimate result will be:
A) an increase in price and an increase in the quantity demanded. B) an increase in price and an increase in the quantity supplied. C) a decrease in price and an increase in the quantity demanded. D) a decrease in price and an increase in the quantity supplied.
The slope of the LM curve will be steeper the __________ is the income-sensitivity of the demand for money and the __________ is the interest-sensitivity of the demand for money
A) less; less B) less; greater C) greater; less D) greater; greater
Which of the following is an example of a public good?
a. Pizzas b. A crowded bus stop c. National Defense d. Cable television