The marginal cost of pollution abatement is graphically illustrated by
A. a vertical curve.
B. a downward sloping curve.
C. a horizontal curve.
D. an upward sloping curve.
Answer: D
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A simultaneous improvement in the technology used to produce computers and increase in the number of buyers in the computer market would cause the equilibrium price of computers to drop but have an uncertain effect on equilibrium quantity
Indicate whether the statement is true or false
In the short run, the price level will rise whenever there is an economy-wide decrease in unit costs
a. True b. False
The monopolistically competitive firm in short-run equilibrium
a. faces a downward-sloping demand curve. b. has a marginal revenue curve which lies below its demand curve. c. maximizes profit where MR = MC. d. All of the above are correct.
If consumption is greater than disposable income, it follows that
A) interest rates are rising. B) the budget deficit is shrinking. C) saving is negative. D) the multiplier is inoperative. E) none of the above