The labels for the axes of an aggregate supply curve should be:
a. Aggregate demand for the vertical axis and real national output for the horizontal axis
b. Real employment for the vertical axis and price level for the horizontal axis
c. Real domestic output for the horizontal axis and price level for the vertical axis
d. Real domestic output for the vertical axis and price level for the horizontal axis
c. Real domestic output for the horizontal axis and price level for the vertical axis
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Your textbook authors argue that the redemption efforts to free Sudanese slaves
A) generally succeeded until the government stepped in and created unintended shortages. B) worked poorly because slave surpluses became rampant. C) unintentionally increased profitability and slave supply. D) proved that underground markets do not coordinate the plans of participants.
Using the market marginal revenue, firms in a cartel or engaged in tacit collusion should set ________ equal to ________ to maximize profit.
A) marginal revenue; marginal cost B) marginal cost; average total cost C) marginal revenue; average total cost D) price; marginal revenue
The Robinson-Patman Act is primarily concerned with:
a. mergers. b. price fixing. c. price discrimination. d. monopoly. e. unfair and deceptive practices.
Which of the following forms of money will earn at least some interest income?
a. Gold coins b. Currency notes c. Traveler's checks d. Checkable deposits e. Gift checks