An increase in the number of firms in a market will cause the quantity of a good supplied to increase
Indicate whether the statement is true or false
FALSE
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In the circular flow diagram, aggregate expenditure includes
A) consumption expenditure, saving, investment and government expenditure. B) consumption expenditure, saving, investment and net exports. C) consumption expenditure, investment, government expenditure and net exports. D) consumption expenditure, saving, government expenditure and net exports.
When constructing an overall measure that shows inflation in the prices of many different items, economists consider: a. the average of the price changes of all goods
b. the total cost of purchasing a basket of goods and services. c. the changes in the prices of only luxury goods. d. the changes in the prices of only nondurable goods.
An expansionary fiscal policy will
A) always result in a budget deficit. B) always result in a budget surplus. C) sometimes result in a budget deficit. D) never result in a budget surplus. E) More information is necessary to answer this question.
Refer to the diagrams in which figures (a) and (b) show demand curves reflecting the prices Alvin and Elmer are willing to pay for a public good, rather than do without it. The collective willingness to pay for the first unit of this public good is:
A. $18.
B. $14.
C. $10.
D. $6.