The aggregate supply curve represents levels of output that producers are willing to sell at
A) each level of the real interest rate.
B) each level of real GDP.
C) each price level.
D) each inflation rate.
C
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If demand is inelastic and the price falls, the total revenue
A) rises. B) falls. C) remains constant. D) might rise, fall, or remain constant. E) becomes negative.
The above figure shows Bobby's indifference map for juice and snacks. Also shown are three budget lines resulting from different prices for snacks. This information could be used to determine
A) the slope of Bobby's demand curve for juice. B) the amount by which Bobby's demand curve for juice shifts when his income rises. C) the amount by which Bobby's demand curve for juice shifts when the price of snacks rises. D) All of the above.
Which one of the following is normally the cheapest way to address water shortages?
a. Expanded development of groundwater aquifers b. Desalination c. Building dams d. Water conservation efforts e. Creating a system of property rights
On the basis of the data we can say that:
Answer the question on the basis of the following information for four highway programs of increasing scope. All figures are in millions of dollars.
A. Program D is the most efficient on economic grounds.
B. Program C is the most efficient on economic grounds.
C. Program B is the most efficient on economic grounds.
D. Program A is the most efficient on economic grounds.