When a manufacturer's home currency appreciates substantially,
a. domestic sales decline
b. foreign sales decline
c. company-owned foreign plant and equipment will increase
d. margins often decline
e. all of the above
e
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Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. D; B C. A; B D. B; C
A good with an income elasticity of 2.3 is:
A. a luxury. B. inferior. C. a necessity. D. a complement.
The market demand curve is derived by summing individual demand curves horizontally
a. True b. False Indicate whether the statement is true or false
A price floor will be binding only if it is set
A. equal to the equilibrium price. B. either above or below the equilibrium price. C. above the equilibrium price D. below the equilibrium price