If Alex uses $800 from her checking account to pay her credit card balance, her wealth:
A. does not change.
B. decreases by $800.
C. increases by $800.
D. increases by $1,600.
Answer: A
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In the above figure, what would happen to the monopolistically competitive industry in the long run?
A) More producers would enter the market, and the share of the market to this firm would fall, which would cause the demand curve to shift leftward until there is zero economic profit. B) More producers would exit the market, and the share of the market to this firm would fall, which would cause the demand curve to shift leftward until there is zero economic profit. C) More producers would enter the market, and the share of the market to this firm would rise, which would cause the demand curve to shift rightward until there is zero economic profit. D) More producers would enter the market, and the share of the market to this firm would fall, which would cause the demand curve to shift leftward until there is negative economic profit.
Government spending:
A. tends to increase with decreases in the price level. B. tends to increase with increases in the price level. C. remains generally unaffected by changes in the price level. D. is not a component of aggregate demand.
Production Possibility Schedules for Two South Pacific Island NationsKiribatiTuvaluMangoesCoconutsMangoesCoconuts30001,20002004008001,2001008004002,40001,20003,600In Kiribati, the opportunity cost of producing one mango (in terms of coconuts) is:
A. 4. B. 1/4. C. 400. D. 0.
Which of the following would cause an increase in the supply of peanut butter?
A) a decrease in the price of grape jelly (assuming that peanut butter and grape jelly are complements) B) an increase in the price of peanut butter C) an increase the price of a product that producers sell instead of peanut butter D) an increase in the number of firms that produce peanut butter