Use the graph below to answer the next question.
Other things equal, a decrease in the price of a substitute resource would cause a
A. move from a to b on D1.
B. move from b to a on D1.
C. shift from D3 to D2 assuming the output effect exceeds the substitution effect.
D. shift from D2 to D3 assuming the output effect exceeds the substitution effect.
Answer: D
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A) Monetary base B) Currency held by the public C) Vault cash D) Total non-financial debt
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A) chronically unemployed B) frictionally unemployed C) discouraged workers D) no longer counted as part of the labor force
Which of the following are ways of promoting a firm's product
a. Advertising b. Discount coupons c. End-of-aisle displays d. All of the above
A new moving van will increase a moving company's yearly revenue by $15,000 . Its useful life is three years. If the interest rate is 10 percent (0.1) per year, which of the following is the highest price the firm would be willing to pay for the van? Assume that each year's revenue is received at the end of the year. (Answers are rounded to the nearest $100.)
a. $15,000 b. $20,000 c. $37,300 d. $44,100 e. $45,000