A decrease in the price level, holding the nominal money supply constant, will shift the LM curve
a. upward and to the right.
b. downward and to the left.
c. downward and to the right.
d. upward and to the left.
A
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Government statisticians adjust GDP figures to include estimates of
A) the value of homemaking (work done within the home). B) the underground economy. C) child-rearing services provided by stay-at-home parents. D) the costs of pollution to society.
A cost that spills over onto individuals not directly involved in an activity is called a positive externality
a. True b. False Indicate whether the statement is true or false
The number of Compact Discs purchased by a consumer depends on the price of the discs as well as the prices of all other goods purchased
a. True b. False Indicate whether the statement is true or false
As the definition of products narrows (i.e., becomes more specific), the concentration ratio
A. is not valid. B. tends to increase. C. tends to decrease. D. does not change in any predictable manner.