Refer to the above figure. The figure represents the consumption function for a consumer. Point D represents
A) autonomous consumption.
B) saving.
C) dissaving.
D) zero saving.
B
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Let D = demand, S = supply, P = equilibrium price, Q = equilibrium quantity. What happens in the market for solar panels if the government offers tax breaks to encourage manufacturers to produce more solar panels?
A) S increases, D no change, P decreases, Q increases. B) D increases, S no change, P and Q increase. C) D and S increase, P and Q decrease. D) D no change, S increases, P decreases, Q decreases.
In Figure 17-4 above, the profit-maximizing quantity, in the absence of "menu costs," ________, with profit equal to ________
A) remains Y0, J + K B) remains Y0, H + K C) remains Y0, G + H + J + K D) falls to Y1, G + J E) falls to Y1, F + G + J
If $1 was equivalent to 120 Japanese yen in 2008 and 125 Japanese yen in 2010, it implies in 2010, there was:
a. a depreciation of the dollar against the yen. b. a depreciation of the yen against the dollar. c. an appreciation of the yen against the dollar. d. no change in the value of yen, but the dollar had weakened. e. no change in the value of dollar, but the yen had strengthened.
Which of the following would increase the price level?
a. an increase in the money supply. b. an increase in taxes. c. a decrease in the expected price level. d. a decrease in the natural rate of unemployment.