________ would be the source of a "real" business cycle
A) Unanticipated changes in monetary policy B) Anticipated changes in monetary policy
C) Technology shocks D) all of the above
C
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The substantially larger real GDP per worker in the United States than in Europe is explained by
A. greater production per hour. B. better U.S. technology. C. longer work hours. D. all of the above. E. none of the above.
Consumers regard Dell computers and Apple computers as substitutes. If the price of a Dell computer decreases, the
A) demand for Dell computers increases. B) demand for Apple computers increases. C) demand for Apple computers decreases. D) supply of Dell computers increases. E) demand for Dell computers decreases.
If a firm shuts down it
A) will produce nothing but must pay its fixed and variable costs. B) will suffer a loss equal to its fixed costs. C) will earn enough revenue to cover its variable costs but not all of its fixed costs. D) will produce nothing but must pay its variable costs.
Suppose TC = 10 + (0.1 ? q2). If there are 100 identical firms in the market, the market supply curve is
A) Q = 1000 ? p. B) Q = 500 ? p. C) Q = 100 ? p. D) Q = 10.