The aggregate demand curve:
a. would be little affected by a technological advancement.
b. shifts to the right when spending decreases.
c. shifts to the left when there is a decrease in taxes.
d. cannot move independently of the aggregate supply curve.
e. shifts to the right when there is an expectation that future income will fall.
a
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The market power enjoyed by a particular producer depends on the number of firms in the industry
a. True b. False Indicate whether the statement is true or false
Americans generally pay
a. a lower percentage of their incomes in taxes than citizens of other industrialized countries. b. a lower percentage of their incomes in taxes than citizens of other industrialized countries, with the exceptions of Sweden and the Netherlands. c. about the same percentage of their incomes in taxes as citizens of other industrialized countries. d. a higher percentage of their incomes in taxes than citizens of other industrialized countries.
Assume that the tuna fishing industry is perfectly competitive. Which of the following best characterizes the industry if, as demand for tuna increases, fishing boats have to go farther into the ocean to harvest tuna?
A) a constant-cost industry B) an increasing-cost industry C) a decreasing-cost industry D) a fixed-cost industry
Refer to the table. A merger between Firm 2 and Firm 3 in Alpha would be a:
Answer the question on the basis of the following table showing market shares of firms in hypothetical industries. Assume these are distinct industries with no buyer-seller relationships or competition among them.
A. vertical merger.
B. horizontal merger.
C. diagonal merger.
D. conglomerate merger.