In the circular flow model, which of the following is an injection?
a. investment spending
b. government taxes
c. total exports
d. imports
a
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Which of the following would cause an unambiguous decrease in the real price of DVD players?
A) A shift to the right in the supply curve for DVD players and a shift to the right in the demand curve for DVD players. B) A shift to the right in the supply curve for DVD players and a shift to the left in the demand curve for DVD players. C) A shift to the left in the supply curve for DVD players and a shift to the right in the demand curve for DVD players. D) A shift to the left in the supply curve for DVD players and a shift to the left in the demand curve for DVD players.
An economy's production possibilities curve for a year is drawn assuming: a. a fixed quantity of resources and technology that is changing along the curve. b. an unchanging level of technology and a changing quantity of resources
c. a fixed quantity of available resources and an unchanging level of technology. d. that the productivity of resources increases continually.
Assume a monopolistically competitive firm encounters a decrease in average variable cost at all output levels.We would expect:
a. The price to fall and output to rise b. The price to fall and output to fall c. The price to rise and output to rise d. The price to rise and output to fall
If a firm is a monopsonist in the hiring of both labor and capital, it will obtain the profit- maximizing quantities of labor and capital when:
A. MRP L /P L = MRP C /P C = 1. B. MRP L /MRC L = MRP C /MRC C = 1. C. the MRP of labor equals the MRP of capital. D. the MRC of labor equals the MRC of capital.