Which of the following changes shifts the SRAS curve up?
A) An increase in the labor force
B) An increase in firms' costs
C) A decrease in government purchases
D) An increase in the money supply
B
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Assuming all else equal, if there is an increase in the real interest rate:
A) there will be an upward movement along the credit demand curve. B) there will be a downward movement along the credit demand curve. C) the credit demand curve shifts to the right. D) the credit demand curve shifts to the left.
In monopolistic competition, a firm can set the price for its product because of
A) easy entry and exit. B) economic profits. C) product differentiation. D) many competitors. E) the firm's upward sloping demand curve.
Fun Time Toys produced $60 million worth of toys in 2008 . Because of a slow Christmas shopping season, only $50 million worth was sold to consumers, and the remaining $10 million worth went into inventories. Based on this information, how was GDP affected in 2008?
a. $60 million was added to GDP; $50 million was classified as consumption spending and $10 million was classified as private investment b. $60 million was added to GDP, all classified as consumption spending c. $50 million was added to GDP, all classified as consumption spending d. $40 million was added to GDP; $50 million was classified as consumption and -$10 million was classified as private investment e. $40 million was added to GDP, all classified as consumption
Profits will be maximized when the slope of the total revenue curve and the slope of the total cost curve equal zero
a. True b. False Indicate whether the statement is true or false