The price of coal fell and the quantity sold also fell. Everything else being equal, it is consistent that
a. the price of oil fell.
b. coal miners received large wage increases.
c. more efficient mining equipment was installed.
d. consumer incomes rose.
e. the supply of coal fell.
a
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The demand for cars in a certain country is given by: D = 20,000 - P, where P is the price of a car. Supply by domestic car producers is: S = 5,000 + 0.5.If this economy is open to trade, and the world price of a car is $6,000, and the government imposes a quota allowing 3000 cars to be imported, then domestic price of the car will be ________.
A. $6,000 B. $5,000 C. $10,000 D. $8,000
Cost-push inflation is caused by: a. an increase in aggregate demand
b. a decrease in aggregate demand. c. an increase in short-run aggregate supply. d. a decrease in short-run aggregate supply.
If policymakers decrease aggregate demand, then in the short run the price level
a. falls and unemployment rises. b. and unemployment fall. c. and unemployment rise. d. rises and unemployment falls.
The opportunity cost of capital owned by the firm should reflect
A. the return foregone by using the capital rather than renting it to another firm. B. acquisition cost. C. wage rate differences. D. both a and b