Which of the following cultural events likely increased the demand for the associated product?
A) the banning of cigarette advertising on television
B) the inclusion of Reese's Pieces in the movie E.T.
C) increased environmental awareness about the impacts of sport utility vehicles (SUVs)
D) concerns over "Mad Cow" disease in beef
B
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The European Central Bank (ECB) pursues a hybrid monetary policy strategy that has elements in common with the -targeting strategy previously used by the Bundesbank but also includes some elements of targeting
A) monetary; inflation B) inflation; monetary C) monetary; exchange rate D) monetary; nominal GDP
From 1973 to 1995, productivity of labor in the U.S
a. declined because of reduced capital formation. b. declined because of slower technological improvement. c. increased because of expanded technological improvement. d. increased because of expanded technological improvement.
The value of the remaining stock of natural capital should not decrease. This is considered _____.
a) weak sustainability b) strong sustainability c) environmental sustainability d) none of the above
A student has just written on an exam that, in the long run, fixed cost will make the average total cost curve slope downward. Why will the professor mark it incorrect?
A. In the long run, firms have no fixed cost—all costs are variable. The shape of the long-run average total cost curve is determined by economies of scale. B. In the long run, fixed cost increases as firms build new plants and purchase new capital. This means that the average total cost curve will eventually slope upward. C. In the long run, fixed cost decreases as costs are spread out over a greater quantity of output. Declining fixed cost accounts for the downward-sloping average total cost curve. D. In the long run, there are no fixed costs, meaning the average total cost curve shifts down.