Slope will vary along a curve (as opposed to a straight line)
a. True
b. False
Indicate whether the statement is true or false
True
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Catfish farming is a perfectly competitive industry. Catfish farmers suffered tremendous economic losses in the late 2000s. As a result,
A) some new catfish farmers entered the market. B) some catfish farmers exited the market. C) no catfish farmers entered or exited this market. D) the supply of catfish increased in 2010. E) new demanders entered the market after some firms had exited.
In the modern U.S. economy, most transactions are made with
What will be an ideal response?
Refer to Figure 6.3. On this graph, area BCEO represents:
A. producer surplus. B. total surplus. C. firm profits. D. total revenues.
Refer to the diagram. Discretionary fiscal policy designed to slow the economy is illustrated by:
A. the shift of curve T 1 to T 2 .
B. the shift of curve T 2 to T 1 .
C. a movement from a to c along curve T 2 .
D. a movement from d to b along curve T 1 .