If the price of tuna fish increases from 50 cents to 60 cents per can and the quantity demanded decreases from 100 cans to 50 cans, then the tuna fish producer could increase its total revenue by
a. lowering price.
b. decreasing quantity supplied.
c. leaving price the same.
d. raising price.
e. decreasing supply.
A
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Which is NOT an example of signaling high quality in a social setting
a. wearing a business suit on a job interview b. scrimping on the tip for the waiter after a dinner date c. offering an expensive engagement ring to your bride d. Visiting the beauty salon before a big date
If the Fed was trying to reduce demand-pull inflation, it might:
a. sell government securities, lower reserve requirements and lower the discount rate. b. sell government securities, raise reserve requirements and raise the discount rate. c. sell government securities, lower reserve requirements and raise the discount rate. d. buy government securities, lower reserve requirements and raise the discount rate.
In the United States, the average level of educational attainment is approximately a
a. primary education. b. secondary education. c. higher education. d. graduate-level education.
In economics, the short run means a time period
A) during which new firms are prohibited from entering the industry. B) during which firms are not allowed to change the amount of imported resources they use. C) that is between one and five years. D) during which the firm is unable to change its plant size.