Which of the following will cause consumption to increase and aggregate demand to shift to the left?
a. an optimistic business forecast of future income growth
b. increased consumer wealth
c. an increase in consumer confidence
d. none of the above
d
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What is an example of the bidder's curse?
A) addiction to auctions B) paying less than the auctioned good value C) Bid a value that is higher than the price of the good at a retail store. D) Never win an auction.
What's the firm's contribution margin?
a. $15 b. $18 c. $3 d. $4
When a monopolist chooses the level of output where marginal cost equals marginal revenue:
A. profits are maximized. B. price is set at marginal revenue. C. price is equal to average total costs. D. total revenue is maximized.
The Federal Deposit Insurance Corporation insures
a. savings accounts against unlawful transfer into checking accounts. b. bank deposits against the failure of an individual bank. c. that the bank will maintain sufficient required reserves. d. bank buildings and property against fire and theft.