Exhibit 1A-1 Straight line
In Exhibit 1A-1, the slope of straight line AB is:
A. positive.
B. zero.
C. negative.
D. variable.
Answer: A
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Figure 9.1 shows three aggregate demand curves. A movement from curve AD2 to curve AD1 could be caused by a(n)
A) increase in the price level. B) increase in government spending. C) increase in the money supply. D) increase in taxes.
From 1970 to 2007 the quantity of M1 fell from 20 percent of GDP to less than 10 percent. This change is because the ownership of credit cards ________ during this time period since ________
A) expanded from 18 percent to 76 percent; credit cards became more widely available and utilized B) expanded from 18 percent to 76 percent; there were several recessions during that period C) fell from 76 percent to 18 percent; credit cards became less widely available and utilized D) remained unchanged; credit cards do not affect the quantity of money E) fell from 76 percent to 18 percent; there were several recessions during that period
A change in which of the following shifts the demand curve?
A) the number of sellers in the market B) the price of the resources used to produce the product C) the technology with which the product is produced D) the tastes and preferences of consumers
Differentiate between an oligopoly and a monopolistic competition on the basis of the number of firms and the degree of product differentiation
What will be an ideal response?