A shift of the supply curve for farm products to the right in a price inelastic region of the demand curve for farm products
A) reduces price and total revenue.
B) increases price and reduces total revenue.
C) reduces price and increases total revenue.
D) increases prices and total revenue.
A
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One of the influences that the world economy has on U.S. aggregate demand comes from changes in
A) foreign income. B) world opinion. C) foreign aid. D) world pollution. E) foreign governments.
Refer to Table 17-2. The marginal revenue product of labor from the third unit of labor is
A) $5,460. B) $1,560. C) $1,260. D) $780.
Which of the following statements is true?
A) Consumers will buy a product only if it meets a need not met by competing products. B) Consumers will buy a product only if its price is below that of its competitors. C) Sheer chance often plays a significant role in the success or failure of a business. D) Input prices are one of the success factors that firms can control.
If aggregate demand is less than the level of aggregate output, then ________ inventory investment will be ________
A) planned; positive B) actual; positive C) actual; negative D) planned; negative