If the price of a Domino's pizza decreases while the price of a Pizza Hut pizza is unchanged, then probably the demand for Pizza Hut pizza:
A. increases as some people switch from Pizza Hut to Domino's.
B. decreases as some people switch from Pizza Hut to Domino's.
C. remains unchanged.
D. will depend on what happens to the supply of Pizza Hut pizza.
B. decreases as some people switch from Pizza Hut to Domino's.
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For most of World War II, the United States economy temporarily operated ____________ the production possibilities frontier.
Fill in the blank(s) with the appropriate word(s).
Patents
A) are a legal barrier to entry. B) remove legal barriers to entry. C) create economies of scale. D) decrease the incentive to innovate. E) are prohibited in the United States.
Although the Federal Reserve had traditionally made discount loans only to ________, in response to the financial crisis in 2008 the Fed made primary dealers eligible for discount loans as well
A) commercial banks B) investment banks C) government agencies D) mortgage lenders
Exhibit 9-3 Keynesian aggregate expenditures model
?
As shown in Exhibit 9-3, equilibrium GDP is:
A. $6 trillion. B. $10 trillion. C. $12 trillion. D. $14 trillion.