On the graph above, an example of a positive demand shock is the movement from point ________ to point ________
A) F; G
B) H; I
C) F; H
D) H; F
E) none of the above
A
You might also like to view...
The assertion that income accrues to people as a consequence of interactions among suppliers and demanders
A) amounts to an endorsement of the existing system. B) amounts to an endorsement of the pattern of income distribution. C) ignores the fact that the interactions are often unfair. D) offers a way of approaching the issue of income distribution.
Flights to Paris are a normal good and people's incomes rise. At the same time, the price of jet fuel rises. The equilibrium price of a flight to Paris ________ and the equilibrium quantity of flights to Paris ________
A) might rise, fall, or not change; increases B) falls; decreases. C) rises; increases D) rises; might increase, decrease, or not change
Some economists believe the economy is self-regulating. What does this mean?
A) It means the economy can remove itself from recessionary and inflationary gaps and produce at Natural Real GDP. B) It means the economy is always in long-run equilibrium producing Natural Real GDP. C) It means that inflationary gaps naturally change into recessionary gaps. D) It means that recessionary gaps naturally change into inflationary gaps. E) c and d
Hi Phi Sound Unlimited has a monopoly over the installation of surround sound systems. Hi Phi Unlimited's total revenue from installing 15 sound systems is $30,000 and its total revenue from installing 18 sound systems is $33,000. The marginal revenue received from selling the 18th sound system is
A. equal to the price of the 16th sound system. B. greater than the price of the 16th sound system. C. less than the price of the 16th sound system. D. Indeterminate from the given information.