A decrease in supply is shown graphically by a shift of the supply curve to the ________.
Fill in the blank(s) with the appropriate word(s).
left
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When demand for money is unstable,
A) a constant interest-rate policy will be superior to a policy of constant money-supply growth. B) constant money-supply growth will be superior to a countercyclical monetary policy. C) procyclical monetary policy would be needed to keep the interest rate constant. D) Both A and C are correct.
A good example of a market that resembles a contestable market would be
A. electric power production. B. trucking companies. C. auto manufacturing. D. urgent-care clinics.
Suppose a retail store was offering 10 percent off list prices on all goods. The benefit of the 10 percent savings is:
A. negatively related to the list price of the good. B. unrelated to the list price of the good. C. positively related to the list price of the good. D. zero since costs and benefits shouldn't be measured proportionally.
Normative economics seeks to understand behavior, but not make judgments.
Answer the following statement true (T) or false (F)