Refer to Figure 11.4. Which diagram illustrates the effect of an increase in government spending?
A) A B) B C) C D) D
D
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The pricing rule for a monopolist is:
A) P = MR > MC. B) P > MR > MC. C) P = MR = MC. D) P > MR = MC.
The price of movie tickets in a town has risen from $7 to $9. What is the most likely effect of the change in price?
a) The demand curve for movie tickets will move right b) The quantity demanded of movie tickets will increase c) The demand curve for movie tickets will move left d) The quantity demanded of movie tickets will decreade
The practice of parents giving their children an amount of land similar to what they received from their parents is known as a
(a) targeted bequest. (b) strategic bequest. (c) life cycle bequest. (d) investment bequest.
Annie is an excellent baker and Sam has a plentiful farm. If Sam trades eggs and butter to Annie for some of Annie's bread and pastries,
a. only Sam is made better off by trade. b. only Annie is made better off by trade. c. both Sam and Annie are made better off by trade. d. neither Sam nor Annie are made better off by trade.