An increase in the price level
A) shifts the AD curve to the right.
B) shifts the AD curve to the left.
C) causes an upward movement along the existing AD curve.
D) causes a downward movement along the existing AD curve.
E) a and c
C
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The table above shows information about the costs and benefits of a steel smelter that pollutes the air of a city. The market is efficient when the quantity of steel produced is ________ tons per week
A) 5 B) 10 C) 15 D) 20 E) 25
Contractionary monetary policy causes a ________ the MP curve and a ________ the aggregate demand curve
A) movement to the right along; shift to the right of B) downward shift of; shift to the right of C) movement to the left along; movement up along D) upward shift of; shift to the left of
If a monopoly firm sells to competitive distributors and the distributors have a constant marginal cost of $8 and they are paying the profit-maximizing wholesale price of $20, what is the retail price of the product?
A) $12 B) $28 C) $8 D) $20
A legal entity that may conduct business in its own name just as an individual does is a(n)
A) corporation. B) entrepreneur. C) proprietorship. D) partnership.