The perfectly competitive firm's demand curve has
A. a slope of infinity.
B. a positive slope.
C. a negative slope.
D. a slope of 0.
Answer: D
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What does it mean for a good to be nonexcludable?
What will be an ideal response?
If expected inflation rises, the long-run Phillips curve will
A) become negatively sloped. B) shift to the left. C) shift to the right. D) not be affected.
According to the household liquidity effect, higher stock prices lead to increased consumption expenditures because consumers
A) feel more secure about their financial position. B) want to sell stocks and spend the proceeds before stock prices fall. C) believe that their wages will increase due to increased profitability of firms. D) can now afford more expensive imports.
Speculation in the sale of public lands
(a) did not occur. (b) placed land in the hands of capitalists at a price that was not competitive. (c) proved to be a necessary evil in transferring land from public to private ownership. (d) was caused by squatters.