If a hurricane were to wipe out the majority of the eastern seaboard in the United States, it would likely cause a:
A. short-run supply shock.
B. long-run supply shock.
C. long-run demand shock.
D. short-run demand shock.
Answer: B
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________ will lead to an increase in the gross domestic product of a country, all other variables remaining unchanged
A) An increase in expenditure incurred by the government B) A fall in the expenditure on consumption C) An increase in imports D) A fall in the expenditure on investment goods
In the medium run of a few months or a few years, exchange rate markets are influenced by ________________ rates.
a. labor b. production c. growth d. inflation
If the government were to intervene in a market economy and fix the price of visiting a health care provider below the market price, then we would expect, relative to the market outcome,
a. an increase in the number of visits people want to make and an increase in the number of visits health care providers want to provide. b. an increase in the number of visits people want to make and a decrease in the number of visits health care providers want to provide. c. a decrease in the number of visits people want to make and an increase in the number of visits health care providers want to provide. d. a decrease in the number of visits people want to make and a decrease in the number of visits health care providers want to provide.
For which of the following market structures will the firm's demand curve be tangent to the ATC curve in the long run?
A. Oligopoly. B. Monopolistic competition. C. Monopoly. D. Duopoly.