A snowmobile rental shop asked its best customer how often he would rent at various rates. Which of the following will show the data on a graph?
a. individual demand schedule
b. market demand schedule
c. individual demand curve
d. market demand curve
Ans: b. market demand schedule
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Expansionary monetary policy is designed to stimulate the economy by increasing the money supply, but not create much inflationary pressure
Indicate whether the statement is true or false
Which of the following would shift the supply curve for MP3 players to the left?
A) an increase in the price of an input used to produce MP3 players B) a decrease in consumer tastes for MP3 players C) an increase in the productivity of the workers who produce MP3 players D) an increase in the number of firms that produce MP3 players
Assuming constant returns to scale, the equation, Y = A(t)F(K,N) can be rewritten as
a. Y/N = A(t)ƒ(K/N). b. q = A(t)ƒ(k). c. Y/N = A(t)ƒ(K ? N). d. Both a and b e. Both b and c
If the price of butter increases, the demand for margarine
A) will be unchanged. B) will shift outward. C) will shift inward. D) will kink into an S-curve.