As we move along a planned expenditures line
A) price level falls.
B) price level fluctuates depending on whether the economy is expanding or contracting.
C) price level rises.
D) price level is held constant.
D
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Marginal cost is the
a. change in total cost resulting from producing one more unit of output. b. change in total fixed cost resulting from producing one more unit of output. c. total cost when one more unit of output is produced. d. total fixed cost when one more unit of output is produced.
Between October 2014 and October 2015, the CPI in Canada rose from 120 to 124 and the CPI in Mexico rose from 210 to 229.1 . What were the inflation rates for Canada and Mexico over this one-year period?
a. 3.3 percent for Canada and 9.1 percent for Mexico b. 3.3 percent for Canada and 8.3 percent for Mexico c. 3.2 percent for Canada and 9.1 percent for Mexico d. 3.2 percent for Canada and 8.3 percent for Mexico
In which of the following instances is the effect on equilibrium price (whether it rises, falls, or remains unchanged) dependent on the magnitude of the shifts in supply and demand?
What will be an ideal response?
Which of the following statements is true of world GDP before 1800?
A) The entire world population was living above the subsistence level of income. B) The GDP per capita in all nations was less than $500. C) Most of the countries were growing at a rate of more than 6% per year. D) Increase in GDP resulted in increase in consumption but not investment.