Which of the following is not a reason for the downward slope of the aggregate demand curve?
a. Real balances effect
b. Interest-rate effect
c. Net exports effect
d. Government spending effect
d
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If the price of roses decreases, the supply of roses will also decrease. This statement is an example of a(n) ______.
a. fallacy b. hypothesis c. aggregate d. ceteris paribus
The slope of a straight line:
A. is constant. B. is negative. C. is zero. D. changes along the curve.
The long-run equilibrium for a firm in an information product industry exists at a point at which
A. marginal cost exceeds marginal revenue. B. average total cost is minimized. C. the demand curve is tangent to the average total cost curve. D. the demand curve crosses the marginal cost curve.
The Condorcet paradox tells us that, even though it is impossible to satisfy all of Arrow's properties of a desirable voting system, pairwise majority voting will always satisfy transitivity
a. True b. False Indicate whether the statement is true or false