The monopoly can shift the demand for its product rightward by
A) accommodating entry.
B) advertising new uses for its product.
C) moving along the learning curve.
D) All of the above.
B
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As the economy enters a strong expansion in which real GDP increases, which of the following occurs?
A) The demand for money decreases and there is a movement upward along the demand for money curve. B) The demand for money increases and there is a movement downward along the demand for money curve. C) The demand for money curve shifts rightward. D) The nominal interest rate falls as the demand for money curve shifts leftward. E) The demand for money curve shifts leftward.
Economic theory assumes people's actions generally follow
A) from comparisons of expected costs and benefits. B) no predictable pattern. C) considerations of material self-interest. D) the Golden Rule.
Contractionary fiscal policy would be most effective in decreasing inflation when
a. the marginal propensity to consume low. b. investment spending is insensitive to interest rates. c. the economy has a high marginal tax rate. d. investment spending is sensitive to interest rates.
A pizza business has the cost structure described below. The firm's fixed costs are $20 per day. What are the firm's marginal costs at an output of 35 pizzas?
a. $0.57 b. $4.00 c. $9.20 d. $230.00