In the income-expenditure framework, if planned aggregate expenditures are less than real gross domestic product (GDP), _____
a. saving will increase
b. the price level will increase
c. inventories will increase
d. inventories will decrease
e. consumption will decrease
c
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If MSC = 20 + 0.75A, where MSC is in millions of dollars, and A is the percentage of mercury emissions abatement, then
a. marginal social cost is $7.5 million when 10 percent of mercury emissions are abated b. the MSC function graphs with a horizontal intercept of 20 c. MSC equals $35 million if 20 percent of mercury is abated d. TSC must be declining with higher abatement levels
A mostly filled movie theatre is an impure public good
a. True b. False
The real interest rate can be negative
a. True b. False Indicate whether the statement is true or false
The demand curve for the product of a monopolistic competitor is
A. vertical. B. downward sloping. C. unitary elastic. D. horizontal.