A decrease in the cost of nitrogen fertilizer will
A. shift the supply curve of US corn to the right.
B. shift the demand curve of US corn to the left.
C. shift the demand curve for US corn to the right.
D. shift the supply curve for US corn to the left.
Ans: A. shift the supply curve of US corn to the right.
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An increase in the education level inside a nation would cause the:
A. aggregate demand curve to shift to the right. B. long-run aggregate supply curve to shift to the right. C. long-run aggregate supply curve to shift to the left. D. short-run aggregate supply curve to shift to the left.
Fiscal policy and monetary policy have a similar ________ time lag.
A. response B. recognition C. implementation D. structural
A single-price monopoly
A) must practice price discrimination. B) can lower its price for only a few select consumers if it wants to increase its sales. C) will set its price equal to a consumer's willingness to pay. D) must lower the price for all customers if it wants to increase its sales. E) is able to raise its price as high as it wants and consumers must still buy from it because it is a monopoly.
Refer to the above diagram. Total utility:
A) increases so long as additional units of Y are purchased. B) becomes negative at 4 units. C) increases at a diminishing rate, reaches a maximum, and then declines. D) is maximized at 2 units.