The usual results of an adverse supply shock are
a. a rise in prices and a fall in output.
b. a fall in prices and a rise in output.
c. increased growth and lower inflation.
d. higher net exports.
a
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During the antebellum period, the South exported more to England than it imported. This Southern trade surplus with England benefited whom?
(a) The South (b) The North (c) England (d) All of the above
If James is willing to sell an extra concert ticket for $40 and actually sells it for $100, his consumer surplus is $60
a. True b. False Indicate whether the statement is true or false
For a monopoly, a negative marginal revenue implies:
A. that the demand is price elastic. B. the quantity effect is larger than the price effect. C. the price effect is larger than the quantity effect. D. total revenues are increasing.
Consider the following information for a family. The income for the family is $58,000; if the MPS is 0.25, and the income for the family decreases by $15,000, then the decrease in consumption will be:
a. $3,750. b. $10,500. c. $11,250. d. $1,500.