If the demand for a monopoly's output shifts rightward, the change in quantity produced is
A) positive.
B) negative.
C) zero.
D) not predictable.
D
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A price floor is a reasonable price control mechanism to impose in cases where the government believes the market's equilibrium price
a. creates an excess supply that will force price downward b. is too high c. creates an excess demand that will force price upward d. is too low e. is higher than the market price
When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline
The United States is a mixed economy because there is a ______________________ sector and a _______________ sector.
Fill in the blank(s) with the appropriate word(s).
Social Security benefits, welfare payments, and farm support payments are examples of:
A. public interest payments. B. investment spending. C. consumption spending. D. transfer payments.