Considering how a change in one variable affects the value of another variable is called
A) the principle of supply and demand. B) the marginal principle.
C) the Peter Principle. D) functional decision making.
B
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In the above figure, economies of scale are present up to an output level of
A) 5,000 pounds of coffee. B) 10,000 pounds of coffee. C) 13,000 pounds of coffee. D) 15,000 pounds of coffee.
The slope of the aggregate demand curve indicates that ________ in the inflation rate leads to ________ of real GDP demanded by households and firms
A) an increase; a higher level B) a decrease; a lower level C) a decrease; a higher level D) an increase; no change in the level
In the long run, according to Monetarists
a. the natural rates of output and employment depend on factor supplies. b. the natural rates of output and employment depend on technology. c. the influence of the money stock is mainly on the price level and other nominal variables. d. All of the above
Price discrimination reveals
A) the inherent greed of Western culture. B) the inability for regulators to stop unethical practices. C) that individuals have different willingness to pay. D) that individuals have the same willingness to pay.