Which of the following is not an example of a public policy?
a. rent-control laws
b. minimum-wage laws
c. taxes
d. equilibrium laws
d
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An increase in the price level causes a movement down the aggregate demand curve
Indicate whether the statement is true or false
Refer to Figure 13-18. Which of the following statements is true?
A) Da represents the long-run demand curve facing a monopolistic competitor in a constant-cost industry while Db depicts the long-run demand curve in an increasing-cost industry. B) Da represents the long-run supply curve in a perfectly competitive, constant-cost industry while Db depicts the long-run demand curve facing a monopolistic competitor in a decreasing-cost industry. C) Da represents the long-run demand curve facing a perfect competitor while Db depicts the long-run demand curve facing a monopolistic competitor. D) Da represents the long-run demand curve facing a monopolistic competitor in a constant-cost industry while Db depicts the demand curve in the short run.
Assume there are three hardware stores, each willing to sell one standard model hammer in a given time period. House Depot can offer this hammer for a minimum of $7. Lace Hardware can offer the hammer for a minimum of $10. Bob's Hardware store can offer the hammer at a minimum price of $13.
Given the scenario described, if the market price of hammers was $13, then total producer surplus would be: A. $9. B. $30. C. $17. D. $7.
In the mid-1990s, real interest rates fell in the United States. This was the result of budget deficit
A. increases and tighter monetary policy. B. increases and looser monetary policy. C. reductions and looser monetary policy. D. reductions and tighter monetary policy.