Which statement(s) are most likely correct about supply?
a. A rise in price almost always leads to an increase in the quantity supplied of that good.
b. A rise in price almost always leads to a decrease in the quantity supplied of that good.
c. A fall in price almost always lead to an increase the quantity supplied.
d. A rise in price almost always leader to an increase in the quantity demanded of that good.
a. A rise in price almost always leads to an increase in the quantity supplied of that good.
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________ in the expected future domestic exchange rate causes the demand for domestic assets to decrease and the domestic currency to ________, everything else held constant
A) An increase; appreciate B) An increase; depreciate C) A decrease; appreciate D) A decrease; depreciate
A perfectly competitive firm should continue to expand output until
A. total revenue exceeds total costs. B. total revenue exceeds variable costs. C. marginal revenue equals marginal costs. D. average revenue equals variable costs.
Under rent control, tenants can expect
a. lower rent and higher quality housing. b. lower rent and lower quality housing. c. higher rent and a shortage of rental housing. d. higher rent and a surplus of rental housing.
A theory of regulatory behavior, which states that regulators must take into account the preferences of legislators, producers, and consumers, is the
A) capture theory. B) share-the-gains, share-the-pains theory. C) public interest theory. D) general interests theory.