Refer to Figure 24-1. Ceteris paribus, an increase in interest rates would be represented by a movement from
A) AD1 to AD2. B) AD2 to AD1. C) point A to point B. D) point B to point A.
B
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Refer to Figure 14-3. What is the equilibrium outcome in this game and is this a subgame-perfect equilibrium?
A) In the equilibrium, Odeon offers $40 per copy of the software package and is accepted but this is not a subgame-perfect equilibrium. B) There is no equilibrium in this game. C) Odeon's offer of $40 per copy of the software package is accepted and this is a subgame-perfect equilibrium. D) In the equilibrium, Odeon offers $30 per copy of the software package and is rejected, and this is a subgame-perfect equilibrium.
In which of the following situations will both market clearing price and the equilibrium quantity increase?
A) an increase in demand with no change in supply B) an increase in supply with no change in demand C) a decrease in supply with no change in demand D) a decrease in demand with no change in supply
In 1910, the largest U.S. industry as ranked by value added was
a. machinery. b. cotton goods. c. tobacco manufactures. d. railroad cars.
Cost-benefit analysis is the public sector counterpart to ____ used in private, profit-oriented firms
a. ratio analysis b. break-even analysis c. capital budgeting techniques d. economic forecasting e. none of the above