Which of the follow is not a property of the aggregate demand curve?
A. It shows the relationship between the overall price level and the level of total demand.
B. The aggregate demand curve slopes downward.
C. It shows the relationship between the overall price level and level consumption.
D. It shows the price level on the vertical axis and output on the horizontal axis.
Answer: C
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Four candidates are running for president of their book club, which has a total of 36 members. The table below indicates the number of voters and their preferences
Determine the winner under the plurality-rule method, the Borda-count method (assigning 3 points to each first choice, 2 points to each second choice, 1 point to each third choice, and no points to each fourth choice), and the instant runoff method. Number of voters and their preferences 7 14 6 9 1st Choice Amy Byron Coco Dinesh 2nd Choice Coco Dinesh Amy Amy 3rd Choice Byron Amy Dinesh Coco 4th Choice Dinesh Coco Byron Byron
A firm’s optimal input proportions may change if
A. input prices change. B. the relative marginal productivities of the inputs change. C. the firm’s optimal output level changes. D. All of the responses are correct.
Which of the following are reasons for the increased centralization in school financing?
a. The existence of diseconomies of scale in education. b. A desire by state education agencies to decentralize control. c. A desire to equalize funding across school districts. d. Increasing positive externalities from education as globalization increases.
In a price-leadership oligopoly model, the oligopoly firms engage in price wars
a. True b. False Indicate whether the statement is true or false