A graph conveys information about a cause-and-effect relationship
a. True
b. False
Indicate whether the statement is true or false
False
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In the above figure, the curve that represents the most income inequality is
A) a. B) b. C) c. D) d.
If a supplier faces a perfectly horizontal demand curve and sets his price slightly higher than the demand curve itself, he can expect:
A. no change in his total revenues. B. everyone to begin buying his product. C. a complete loss of revenues. D. a new demand curve.
For the monopolist, marginal revenue is
A. greater than price. B. not a consideration in the firm's pricing. C. equal to price. D. less than average revenue since price must be lowered to sell additional units.
Tax increases on business income decrease aggregate demand by decreasing
A) business investment spending. B) government spending. C) consumption spending. D) wage rates.