For much of 2001 and 2002, McDonalds faced a(n):
A) decrease in demand.
B) increase in demand.
C) increase in profits.
D) none of the above.
A
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If the demand for insulin is inelastic, an increase in insulin prices leads to
A) less total revenue for insulin makers. B) more total revenue for insulin makers. C) no change in total revenue for insulin makers. D) first a decrease, then an increase in total revenue for insulin makers. E) Total revenue probably changes, but we need more information about the change in total expenditures on insulin to determine if the total revenue rises, falls, or stays the same.
Policy makers and citizens who want to expand the size of the government sector would favor stabilization policies that
a. raise G to eliminate a recessionary gap and lower taxes to eliminate an inflationary gap. b. raise G to eliminate a recessionary gap and raise taxes to eliminate an inflationary gap. c. reduce taxes to eliminate a recessionary gap and raise G to eliminate an inflationary gap. d. reduce taxes to eliminate a recessionary gap and reduce G to eliminate an inflationary gap.
When the price is $5
A. quantity supplied is greater than quantity demanded and, therefore, price must rise to get to equilibrium.
B. quantity supplied is greater than quantity demanded and, therefore, price must fall to get to equilibrium.
C. quantity demanded is greater than quantity supplied and, therefore, price must rise to get to equilibrium.
D. quantity demanded is greater than quantity supplied and, therefore, price must fall to get to equilibrium.
An online dating firm is
A) a platform in a shared-input market. B) an end user in a matchmaking market. C) a platform in a matchmaking market. D) an end user in a shared-input market.