The point price elasticity of demand for red herring is -4. The demand curve for red herring is: Q = 120 - P. What is the price of red herring?
A) $96
B) $80
C) $100
D) $120
E) none of the above
A
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Recent U.S. budget deficits have arguably been financed by foreigners; if it were not for foreign __________ of Treasury securities, U.S. interest rate would be much __________
A) sales; higher B) sales; lower C) purchases; higher D) purchases; lower
Possible goals of Not-For-Profit (NFP) enterprises include all of the following EXCEPT:
a. maximize total costs b. maximize output, subject to a breakeven constraint c. maximize the happiness of the administrators of the NFP enterprise d. maximize the utility of the contributors e. a and c
Which of the following will NOT shift an economy's production possibilities curve outward?
A. an increase in technology B. an improvement in the literacy rate C. a reduction in the unemployment rate D. an increase in the number of workers available
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward