An account period may be:
a. One quarter
b. One month
c. One year
d. All of these
Answer: d. All of these
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When a price support is set above the equilibrium price, producers ________ the quantity supplied and consumers ________ the quantity demanded
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease E) do not change; do not change
Economists consider the model of perfect competition useful because:
a. it is a standard for analyzing producer and consumer benefits. b. its assumptions exactly fit into actual conditions in some markets. c. its assumptions can be easily replaced with realistic ones. d. it is a standard for analyzing consumer choices.
From the beginning of 1974 until January 2013, the value of the Canadian dollar has ________ relative to the U.S. dollar and ________ relative to the Japanese yen.
A) appreciated than depreciated; appreciated B) depreciated then appreciated; depreciated C) depreciated then appreciated; appreciated D) depreciated; depreciated
? A decrease in nominal incomes cause a:
A. ?rightward shift in the short-run aggregate supply curve. B. ?leftward shift in the short-run aggregate supply curve. C. ?rightward shift in the long-run aggregate supply curve. D. ?leftward shift in the long-run aggregate supply curve.