The supply curve is upward sloping because of
A) increasing marginal cost.
B) decreasing marginal benefit.
C) decreasing marginal cost.
D) increasing marginal benefit.
E) increasing total cost.
A
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A government policy that prevents the price of a good or service from falling below a specified level is called a price floor and usually results in
A. a shortage. B. a surplus. C. a black market. D. fewer producers of the good or service. E. a decrease in demand.
The principle tool the Fed uses to keep the federal funds rate close to the target is:
A. open market operations. B. the required reserve rate. C. the IOER rate. D. discount lending.
A forecaster used the regression equationQt = a + bt + c1D1 + c2D2 + c3D3and quarterly sales data for 1996 I - 2013 IV (t = 1, ..., 64) for an appliance manufacturer to obtain the results shown below. Q is quarterly sales, and D1, D2 and D3 are dummy variables for quarters I, II, and III.
What is the estimated intercept of the trend line in the fourth quarter?
A. 0 B. 55 C. 40 D. 70 E. none of the above
Marginal utility
A. is stable, but then as a person consumes more of a good or service, has a propensity to increase. B. equals the total satisfaction from consumption of goods and services. C. can be thought of as being the equivalent to total utility. D. at first rises and then declines as a person consumes more of a good or service.