A reduction in net exports shifts the aggregate
a. demand curve inward.
b. demand curve outward.
c. supply curve outward.
d. supply curve inward.
a
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What incentive motivates a manufacturer to sell a product?
a) making profits on sales b) putting others out of buisness c) pleasing the consumer d) popularity of the product
Last year you purchased 20 USBs at $12 a piece, 10 shirts at $15 each, and 5 sweaters at $30 each (total spending equals $540). This year you buy 18 USBs at $15 each, 10 shirts at $16 each, and 6 sweaters at $36 each (total spending equals $640). If last year's index was 100, this year's index
A. is 83.6. B. is 119.6. C. is 118.5. D. is 30.
According to new growth theory, economic growth is driven by
A) new ideas. B) the division of labor. C) positive externalities. D) higher birth rates.
If Ed Sike (who you met in Chapter 8 ) lowers ticket prices to a point where the number of tickets demanded is greater than the number of seats available,
A) Ed will be in a good position to grant favors to his friends. B) net revenue will be negative. C) net revenue will be positive but not necessarily at the maximum level. D) resources will not be allocated efficiently. E) total revenue will be maximized.