Which of the following changes would tend to both decrease the quantity of a good traded and increase the price?
a. An increase in demand.
b. A decrease in demand.
c. An increase in supply.
d. A decrease in supply.
d
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In the Stackelberg model, there is an advantage
A) to waiting until your competitor has committed herself to a particular output level before deciding on your output level. B) to being the first competitor to commit to an output level. C) to the firm with a dominant strategy. D) to producing an output level which is identical to a monopolist's output level.
A firm is defined as
a. a president, some vice presidents, and some employees. b. any organization that wants to make a profit. c. any accumulation of productive assets. d. any organization that turns inputs into outputs.
With quantitative easing, the Fed purchases _____________________. With open market operations, the Fed purchases ______________________________
A) short-term and long-term government securities, as well as private sector bonds and securities; short-term government securities B) short-term government securities, only; long-term government securities, only C) long-term government securities, only; short-term government securities, only D) government securities, only; private sector bonds and securities
If the economy is operating way below capacity, an increase in aggregate demand causes a ________ change in the price level and ________ change in output.
A. big; big B. small; small C. small; big D. big; small