The main reason why the short-run aggregate supply curve slopes upward is that as the average price level increases, larger scales of production become more profitable
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following explains the vicious circle of poverty?
a. By investing in education and infrastructure at the same time, the country can overcome the problems of poverty. b. Poverty arises out of the lack of investment, but they cannot invest because they are poor. c. A nation can shift its production possibilities curve inward by shifting more resources into the production of capital goods. d. A nation can shift its production possibilities curve outward by shifting more resources into the production of consumer goods.
If the popular television show The Bachelor is shown on pay-per-view television every Monday at 9pm, then the demand curve for each episode is given below. 
If the regulated pay-per-view charge were $30 per household, what would be the loss in total economic surplus relative to when there is no charge to watch an episode?
A. $4,000 million B. $1,280 million C. $2,000 million D. $720 million
According to the law of demand, during a given period of time, the quantity of a good demanded
A. Does not change when price changes. B. Increases as its price falls, ceteris paribus. C. Decreases as its price falls, ceteris paribus. D. Increases as its price rises, ceteris paribus.
Suppose that a sporting goods store had $800 of golf balls on its shelves at the beginning of 2016 and $1,300 at the end of 2016. The amount of inventory investment included in GDP would be:
A. $500. B. $800. C. $1,300. D. $2,100.