It is easy to discern the difference between vigorous competition and the exercise of monopoly power.
Answer the following statement true (T) or false (F)
False
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Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
Which of the following is a macroeconomic concept?
A) The elasticity of supply of a good B) The per capita income of a country C) The average revenue earned by a firm D) The income elasticity of demand for a good
Under Bretton Woods,
A) any foreign country cannot devalue its currency against the dollar in conditions of "fundamental disequilibrium." B) any foreign country could devalue its currency against the dollar in conditions of "fundamental disequilibrium," but the system's rules did not give the United States the option of devaluing against foreign currencies. C) any foreign country could devalue its currency against the dollar in conditions of "fundamental disequilibrium," and the system's rules did give the United States the same option of devaluing against foreign currencies. D) the U.S. could devalue its currency against the foreign currencies in conditions of "fundamental disequilibrium." E) any foreign country can revalue its currency against the dollar in conditions of "fundamental disequilibrium."
A shift occurs in the supply curve for salt when:
A. the price of salt increases.
B. improvements are made in the production process.
C. salt is found to be associated with high blood pressure.
D. consumers expect the price of salt to increase in the future.