A downward-sloping demand curve illustrates
a. that demand increases
b. that prices fall.
c. the relationship between income and demand.
d. the law of demand.
d
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If both the MU and MC of flower pots is $1.50 and the MU and MC of coffee cups is $2, then economic efficiency would require
a. increased production of flower pots. b. increased production of coffee cups. c. the price of coffee cups to exceed the price of flower pots. d. the price of flower pots to exceed the price of coffee cups.
The desire in the U.S. for owner-occupied housing led to subsidies that contributed to the recession which started in 2007.
A. True B. False C. Uncertain
If a nation can produce a more computers per year than any other nation, that nation has a(n) ________ advantage in the production of computers.
A. natural B. absolute C. comparative D. relative
If business taxes are reduced and the real interest rate increases:
A. consumption and saving will necessarily increase. B. the level of investment spending might either increase or decrease. C. the level of investment spending will necessarily increase. D. the level of investment spending will necessarily decrease.