In the figure above, the shift from DLF1 to DLF2 could result from
A) an increase in a government budget surplus.
B) the economy entering a recession.
C) the economy entering a strong expansion.
D) an increase in the nominal interest rate.
E) a decrease in the real interest rate.
C
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What portion of the engineering and computer-science doctorate degree-holders in the U.S. are foreign-born?
A. About 10% B. About 25% C. About 50% D. About 75%
Price elasticity of supply is always
A) positive because of the law of supply. B) negative because of the law of supply. C) positive because of diminishing marginal utility. D) negative because percentages can only be negative.
Suppose a firm finds it is better off operating than shutting down in the short run. What is true at the quantity at which marginal cost equals marginal revenue?
a. total cost equals total revenue b. average cost equals average revenue c. profit is maximized d. revenue is maximized e. cost is minimized
Recall the Application about finding estimates of elasticities of demand to answer the following question(s).According to the Application, ________ has a website that provides estimates of demand elasticities for hundreds of food products for dozens of countries.
A. the U.S. Department of Agriculture B. the U.S. State Department C. the United Nations D. the World Bank