Refer to Figure 16-3. In the graph above, suppose the economy is initially at point A. The movement of the economy to point B as shown in the graph illustrates the effect of which of the following policy actions by Congress and the president?
A) a decrease in interest rates
B) an increase in the money supply
C) a decrease in income taxes
D) a decrease in government purchases
C
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If Hong Kong continues to devote more resources to accumulating capital than the United States, Hong Kong will continue to grow more rapidly than the United States
Indicate whether the statement is true or false
The breakfast cereal industry has a four-firm concentration ratio of 80 percent. Is this enough information to classify the industry as an oligopoly? Is a high concentration ratio evidence that an industry is not competitive?
What will be an ideal response?
The supply curve does not:
A. represents producers' willingness and ability to sell. B. show the minimum price producers will accept for any given quantity. C. visually display the supply schedule. D. illustrate how consumers want to purchase goods and services.
The marginal cost curve intersects the average fixed cost curve at its minimum
Indicate whether the statement is true or false