In the figure above, the shift in the aggregate demand curve from AD1 to AD3 could be the result of an increase in
A) the price level.
B) foreign incomes.
C) aggregate supply.
D) the foreign exchange rate.
E) expected future income.
D
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A business cost is always
A) a sunk cost. B) a marginal cost. C) a consequence of managerial decisions. D) measurable if we use sophisticated accounting techniques.
Assume that workers in a purely competitive industry are earning a wage rate of $15 and the price of the product they are producing is also $15 what does this imply about the marginal productivity of these workers?
What will be an ideal response?
In a command system, the decision about what should be produced is made by
a. a central authority b. the market c. repeating what was done in the past d. business firms e. consumers
The graph shown demonstrates a tax on buyers. Before the tax was imposed, the sellers produced ________ units and received ________ for each one sold.
A. 9; $30 B. 9; $18 C. 6; $34 D. 6; $22