Which of the following could not be expected to shift the aggregate demand curve?
a. Net exports fall.
b. Consumption spending decreases.
c. An increase in government spending.
d. A change in real GDP.
d
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The various antitrust laws are written in very specific terms. Thus, there is little or no question as to when a firm has run afoul of one or more of these laws
Indicate whether the statement is true or false
Framing often causes people to
A) violate expected utility theory. B) go to prison. C) fall afoul of the certainty effect. D) become risk-averse.
Suppose an oil company wants to make its total revenue as large as possible. It should charge a price at which the demand for oil is:
a. elastic. b. unitary elastic. c. inelastic. d. perfectly inelastic.
The invisible hand promotes society's interests because:
A. individuals pursuing their self-interest will try to produce goods and services that people in society want and are willing to purchase. B. individuals will produce goods for others out of concern for their fellow human beings. C. it makes sure that everyone wins from competition in the market. D. government regulation pushes business into producing the right mix of goods and services.