Monopolistic competition will include producers of poultry and dairy products
a. True
b. False
Indicate whether the statement is true or false
False
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In the above figure, assume the economy starts out in equilibrium at point d. If the Fed increases the money supply so that the new aggregate demand curve is AD3, then the new short-run equilibrium will be at point
A) a. B) b. C) c. D) i.
If the government undertakes expansionary fiscal policy, it:
A. could increase income taxes. B. expects aggregate demand to increase. C. expects aggregate demand to decrease. D. should force people to change their spending patterns.
If the quantity supplied of science fiction novels decreases by 3% and the price elasticity of supply is 15, what has been the percentage price change?
a. -15% b. -3% c. -5% d. -0.2%
An example of a final good is:
A. chocolate used to make Cocoa Rice Krispies. B. chocolate chips purchased by Nabisco to make Keebler chocolate chip cookies. C. chocolate chips purchased by you to make chocolate chip cookies. D. chocolate chips purchased by a restaurant to make a chocolate chip cookie pie to sell.