One of the possible reasons for high sales and steady profit margins of General Motors, Ford, and Chrysler during 1950s and 1960s were aggressive pricing and design innovations
Indicate whether the statement is true or false
F
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The expression "increase in quantity supplied" is illustrated graphically as a
A) leftward shift in the supply curve. B) rightward shift in the supply curve. C) movement up along the supply curve. D) movement down along the supply curve.
When there is an excess quantity supplied of a product at the current price, then: a. the market price must be below equilibrium price
b. the quantity demanded is greater than the equilibrium quantity. c. the market price will tend to rise. d. the market price will tend to fall.
Private markets fail to reach a socially optimal equilibrium when negative externalities are present because
a. social costs equal private costs at the private market solution. b. private costs exceed social costs at the private market solution. c. social costs exceed private costs at the private market solution. d. they internalize externalities.
According to the AS/AD model, in the short run an increase in the federal funds rate will
What will be an ideal response?