A decrease in demand and an increase in supply will:
A. Affect price in an indeterminate way and decrease the equilibrium quantity
B. Increase price and affect the equilibrium quantity in an indeterminate way
C. Decrease price and affect the equilibrium quantity in an indeterminate way
D. Increase price and increase the equilibrium quantity
C. Decrease price and affect the equilibrium quantity in an indeterminate way
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Stockholders of a corporation can be regarded as entrepreneurs because they
a. are ultimately the ones who hire or fire managers b. take the risks associated with corporate enterprise c. are compensated for the opportunity costs they incur when they invest their capital in the corporation d. are involved in the major management operations of the corporation e. invest their time and effort in managing the corporation
Which of the following must be true if average total costs are declining?
a. Marginal cost is less than average total cost. b. Marginal cost is less than average variable cost. c. Marginal cost is greater than average total cost. d. Marginal cost equals average total cost.
If the deductible is $300 and the co-payment is 20%, on a covered expense of $800 the individual will pay ________, and their insurance company will pay ________.
A. $500; $300 B. $300; $400 C. $300; $500 D. $400; $400
If the Federal Reserve lowers its target inflation rate, the monetary policy reaction function ________ and the aggregate demand curve ________.
A. shifts downward to the right; shifts to the left B. shifts downward to the right; shifts to the right C. shifts upward to the left; shifts to the left D. shifts upward to the left; shifts to the right