The demand curve of a commodity slopes downward because of:
a. the insatiable nature of human wants.
b. the presence of double coincidence of wants.
c. the law of demand.
d. the scarcity of goods and services in an economy.
e. the law of diminishing marginal utility.
c
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The production possibilities frontier model assumes all of the following except
A) the level of technology is fixed and unchanging. B) any level of the two products that the economy produces is currently possible. C) labor, capital, land and natural resources are fixed in quantity. D) the economy produces only two products.
The deregulation of thrift institutions in the 1970s and 1980s have made their deposits and thus their ability to finance mortgages ________ sensitive to movements in the market interest rate, thus ________ the monetary policy multiplier
A) more, raising B) more, lowering C) less, raising D) less, lowering
When companies sell slightly different forms of a product to different groups of customers, this is known as
A) market testing. B) editions. C) adaptations. D) versioning.
A monopolist will operate where
a. MR = MC and charge a price equal to marginal revenue. b. MR = MC and charge a price equal to marginal cost. c. MR = MC and charge a price corresponding to demand at that level. d. MC = MR and charge a price corresponding to average cost.