The long-run aggregate supply curve is:
A. a horizontal line.
B. an upward-sloping line.
C. a vertical line.
D. a downward-sloping line.
Ans: C. a vertical line.
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In exchange for a share of the revenues earned on campus, State U has granted CheapFizz the exclusive right to sell soft drinks in the student union and in vending machines on campus. Prior to the deal, three soft drink companies sold beverages on campus; now no other soft drink company is allowed to sell its products on campus. The beneficiaries of this deal is/are ________.
A. CheapFizz B. State U C. State U and CheapFizz D. the students at State U
Sue is taking an accounting job she was offered that pays $67,000 per year. She also had two other offers, a sales job paying $71,000 per year and a marketing job paying $65,000 per year. What is Sue's opportunity cost of taking the accounting job?
A) $65,000 B) $67,000 C) $71,000 D) $136,000
The long-run supply curve is upward sloping in a constant-cost industry.
Answer the following statement true (T) or false (F)
Refer to Table 23-3. Given the consumption schedule in the table above, the marginal propensity to consume is
A) 0.1. B) 0.3. C) 0.6. D) 0.9.