The dollar price of a good relative to the average dollar price of all other goods and services is the good's:
A. nominal price
B. equilibrium price
C. market price
D. real price
Answer: D
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Which of the following is TRUE of a monopoly?
A) It can always increase its revenue by increasing the price to its customers. B) It will always operate somewhere along the inelastic portion of the demand curve. C) Its marginal cost curve is always downward sloping. D) None of the above is correct.
Which of the following countries is not a member of NAFTA?
A) Canada. B) The United States of America. C) Mexico. D) All three countries form part of NAFTA.
What policies would you recommend to the U.S. government to lower the balance of trade deficit and decrease net capital inflows?
What will be an ideal response?
An increase in the money supply, other things equal, shifts the ________ curve to the ________
A) IS; right B) IS; left C) LM; left D) LM; right