If the price of manicures declines by 50 percent, the quantity demanded will _____ and the quantity supplied will ______.
Fill in the blank(s) with the appropriate word(s).
rise; decline
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The IS curve has a positive slope because a(n) __________ in the interest rate leads to a(n) __________ in desired investment and this leads to an increase in GDP
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
A profit-maximizing firm will employ a resource up to the point where
a. its marginal resource cost equals its marginal revenue product b. its marginal resource cost equals its marginal product c. its marginal resource cost equals the marginal revenue of the output d. its marginal resource cost equals the price of the resource e. the price of the resource equals the marginal revenue of the output
A technique that can be employed to make a portfolio less risky than any of its individual securities is
a. plowback. b. diversification. c. programmed trading. d. speculation.
If inventory levels are decreasing, then we should expect business firms to
a. decrease prices. b. decrease output. c. lay off workers. d. increase output.