Assume Claudia's budget constraint is demonstrated by line A in the graph shown. Which of the following would cause Claudia's budget constraint to shift to line C?
A. The price of movie tickets dropped.
B. Claudia's preferences for these two goods decreased.
C. The price of books dropped.
D. Claudia's income decreased.
Answer: D
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Suppose the accompanying table describes the demand for a good produced by monopolist. PriceQuantity$101$92$83$74$65$56$47The total revenue from selling 6 units is ________, and the marginal revenue of selling the 6th unit is ________.
A. $24; $5 B. $30; $1 C. $5; 5 D. $30; 0
The principle of marginal analysis is useful when trying to:
a. find ways to average costs. b. find ways to further income equality. c. make decisions that maximize net gains. d. make either/or decisions.
Economic growth is represented on the aggregate supply model by a
A. shift in the long-run aggregate supply curve to the right. B. shift in the short-run aggregate supply curve to the left. C. shift in the long-run aggregate supply curve to the left. D. shift in the short-run aggregate supply curve to the right.
On average, globalization has:
A. been insignificant. B. benefited Americans. C. left Americans no better or not worse off. D. hurt Americans.