Refer to Figure 13-2. Ceteris paribus, a decrease in the price level would be represented by a movement from
A) SRAS1 to SRAS2. B) SRAS2 to SRAS1. C) point A to point B. D) point B to point A.
D
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Refer to the figure above. What is the change in total revenue due to a price reduction from $6 to $4?
A) The total revenue increases by $300. B) The total revenue decreases by $600. C) The total revenue increases by $200. D) The total revenue increases by $600.
During the 1990s, which of the following did NOT occur?
A) Private savings fell. B) Investment rose. C) Public savings increased. D) The United States received capital inflows. E) Private savings was greater than investment for most of the 1990s.
Refer to Scenario 5.10. Hillary's indifference curves showing her preferences toward risk and return can be shown in a diagram. Expected return is plotted on the vertical axis and standard deviation of return on the horizontal axis
Although her indifference curves are upward sloping and bowed downward, their slope is very gradual (they are almost horizontal). These indifference curves reveal that Hillary is: A) risk neutral. B) risk averse. C) risk loving. D) irrational.
Which of the following is NOT an argument against free trade?
A) infant-industry argument B) protecting domestic job argument C) countering foreign subsidies argument D) comparative advantage argument