With an upward sloping SAS curve, an expansionary monetary policy that affects the price level but not real output could be the result of a shift of:
A. only the SAS curve.
B. both the AD and SAS curves.
C. neither the SAS curve nor the AD curve.
D. only the AD curve.
Answer: B
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If the U.S. dollar appreciates against the Japanese yen:
A. Japanese goods will be more expensive in the United States. B. the U.S. dollar will buy fewer Japanese yen. C. Japanese goods will be cheaper in the United States. D. U.S. goods will be cheaper for Japanese consumers.
Suppose the cost function is C(Q) = 50 + Q ? 10Q2 + 2Q3. What are the fixed costs?
A. $10 B. $2 C. $50 D. $1
Quantity of Frozen Latte-On-A-Stick SuppliedPriceFlo's SupplyRita's Supply10020334649951512
Refer to Table 4.1, which shows Flo's and Rita's individual supply schedules for frozen latte-on-a-stick. Assuming Flo and Rita are the only suppliers in the market, if the market quantity supplied is 3, the price must be:
A. $0. B. $2. C. $4. D. $5.
Is sharecropping economically efficient or inefficient? Explain
What will be an ideal response?