Demand curves are negatively sloped when people buy:
a. less as the price decreases.
b. more as the price increases.
c. the same amount as the price changes.
d. more as the price decreases.
e. less as incomes decrease.
d
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If you have found the percentage of the value of total revenue accounted for by the four largest firms in an industry, you have found the
A) elasticity of demand value. B) elasticity of supply value. C) Herfindahl-Hirschman Index. D) four-firm concentration ratio. E) monopolistic concentration index.
The the government increases the level of government expenditure. If there is no change in the aggregate supply curve, then aggregate demand will ________, real GDP will ________, and the price level will ________
A) increase; remain the same; increase B) remain the same; increase; increase C) increase; increase; increase D) decrease; increase; increase E) decrease; remain the same; decrease
Investment spending, capital formation, and rapid technological progress are directly related
a. True b. False Indicate whether the statement is true or false
The benefit principle is the idea that people should pay taxes based on the benefits they receive from the services those taxes provide
a. True b. False Indicate whether the statement is true or false