The initial impact of the repeal of an investment tax credit is to shift
a. aggregate demand right.
b. aggregate demand left.
c. aggregate supply right.
d. aggregate supply left.
b
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When the price of an inferior good falls, the substitution effect leads to ________ in the quantity purchased and the income effect leads to ________ in the quantity purchased
A) an increase; an increase B) an increase; a decrease C) a decrease; an increase D) a decrease; a decrease
Which of the following is not considered a barrier to entry?
a. large economies of scale b. control of inputs used in production c. a homogeneous product d. patents e. copyrights
Which of the following is true of regulation?
What will be an ideal response?
Refer to the graph shown. To maximize profit, this firm should produce:
A. 250 units of output. B. 525 units of output. C. 450 units of output. D. 120 units of output.