In the basic closed-economy ISLM model, as the interest sensitivity of money demand increases, fiscal policy has ________ effect on output and monetary policy has ________ effect on output
A) less; less
B) more; more
C) more; less
D) less; more
C
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If a subsidy is provided to produce good X, this will shift the
A. demand curve for X to the right. B. supply curve for X to the left. C. demand curve for X to the left. D. supply curve for X to the right.
The U.S. Justice Department, on the basis of the Herfindahl index, classifies the industries with the value:
a. below 500 as highly competitive; 500-1000 as moderately competitive; and above 1000 as highly concentrated. b. below 1000 as highly competitive; 1000-1500 as moderately competitive; and above 1500 as highly concentrated. c. below 500 as highly competitive; 500-1500 as moderately competitive; and above 1500 as highly concentrated. d. below 1000 as highly competitive; 1000-1800 as moderately competitive; and above 1800 as highly concentrated. e. below 1500 as highly competitive; 1500-2000 as moderately competitive; and above 2000 as highly concentrated.
Cost is a measure of the
a. seller's willingness to sell. b. seller's producer surplus. c. producer shortage. d. seller's willingness to buy.
Say you are the owner of a Pizza place. You know that when you produce 10 pizzas, the average product of each of your workers is 10, and the marginal product of your last worker is 15. From this information you know that
A. the average product is increasing. B. the average product is decreasing. C. the marginal product is decreasing. D. the marginal product is increasing.