You are likely to learn about ________ in your macroeconomics class
A) the price elasticity of demand for a good B) the average revenue and cost curves of a firm
C) the Law of Diminishing Marginal Utility D) the annual growth rate of an economy's output
D
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During the recession of 2009, the consumption function temporarily shifted ________ as a fall in house prices ________ wealth and encouraged people to ________ more
A) downward; raised; spend B) downward; raised; save C) upward; lowered; save D) downward; lowered; save E) downward; lowered; spend
Why is it true that exchange rates tend to be equal worldwide? Briefly explain
What will be an ideal response?
The interest rate on a given loan reflects the ________ of the loan and the perceived risk to the ________.
A. size; borrower. B. length; borrower. C. size; borrower and lender. D. length; lender.
Refer to the graphs below for a competitive market in the short run. What will happen in the long run to industry supply and the equilibrium price P of the product?
A. S will decrease, P will decrease
B. S will increase, P will decrease
C. S will decrease, P will increase
D. S will increase, P will increase