The quantity theory of money idea that velocity is ________ link between money growth and nominal GDP growth was ________ in the 1930s
A) a stable, confirmed
B) a stable, disproved
C) an unstable, confirmed
D) an unstable, disproved
B
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Below, the graph on the left shows the short-run cost curves for a firm in a perfectly competitive market, and the graph on the right shows the current market conditions in this industry. What is the maximum amount of profit the firm can earn?
A. $150 B. $80 C. $50 D. $40
Combinations of two goods along the indifference curve yield:
a. equal prices for the two goods. b. equal marginal utilities. c. the same total utility. d. zero total utility.
If muffins and bagels are substitutes, a higher price for bagels would result in a(n)
a. increase in the demand for bagels. b. decrease in the demand for bagels. c. increase in the demand for muffins. d. decrease in the demand for muffins.
If the cost of producing a good rises for sellers, then how will this affect the market equilibrium for that good?
a. Price and quantity will both fall. b. Price will fall and quantity will rise. c. Price will rise and quantity will fall. d. Price and quantity will both rise.