Which of the following factors affects consumers' decisions to buy goods or services:
A. Buying power
B. Competition
C. Labor costs
D. Production costs
A. Buying power
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Consider two similar economies hit by the same temporary negative supply shock. In the economy with the more credible monetary policy, there will be ________
A) smaller increases in both inflation and the real interest rate B) a smaller increase in inflation and larger increase in the real interest rate C) a smaller increase in inflation and larger decrease in output D) a smaller increase in output and larger increase in the real interest rate
In the short run, marginal cost is increasing when
A) MPL is decreasing. B) MPL is increasing. C) APL is increasing. D) APL is decreasing.
Antitrust action in the United States
a. has followed an inconsistent pattern of enforcement b. has always provided specific guidelines for acceptable behavior c. applies only to natural monopolies d. involves suing a competitive firm for changing its prices e. provides protection to those in regulated industries
Which of the following is a similarity between the impact of import quotas and the impact of tariffs?
A. Both increase the prices paid by American buyers. B. Both increase profitability for the foreign sellers. C. Both increase the net prices received by foreign sellers. D. Both increase tax revenues for the U.S. government.