If a firm spends $600 more on advertising, its goal is for the demand curve for its product to shift ________ and its marginal revenue curve to shift ________
A) leftward; rightward
B) leftward; leftward
C) rightward; leftward
D) rightward, rightward
D
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Consider the following factors:
a. culture b. religion c. customs d. prices e. income Which of the factors above are likely to influence the choices consumers make? A) a, d, and e only B) d and e only C) all the factors except c D) all the factors except b E) all the factors listed
If the Fed raises the interest rate, this will ________ inflation and ________ real GDP in the short run
A) reduce; lower B) reduce; raise C) increase; raise D) increase; lower
Price floors are used as a method to:
a. ensure buyers that goods won't be cheaper tomorrow. b. see that production levels don't fall too low. c. guarantee there will be enough food for everyone. d. combat excess demand in the market. e. ensure sellers a minimum price for their goods.
In an increasing cost industry, the long-run supply curve is
a. positively sloped. b. negatively sloped. c. horizontal. d. vertical.