Individual supply curves generally slope ________ because ________.
A. downward; inputs are cheaper when purchased in high volume.
B. upward; of increasing opportunity costs.
C. downward; sellers become more efficient with practice.
D. upward; profits increase with quantity.
Answer: B
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Consider a market that is in equilibrium. If it experiences both an increase in demand and an increase in supply, what can be said of the new equilibrium? The equilibrium:
A. price and quantity will both rise. B. quantity will definitely rise, while the equilibrium price cannot be predicted. C. price will definitely rise, while the equilibrium quantity cannot be predicted. D. price and quantity will both fall.
The investment expenditures made by Macroville's power plant to reduce air polluting emissions result in a decrease in the national economy's net output for the year
Indicate whether the statement is true or false
The national debt is the
a. difference between a nation's exports and imports of goods and services. b. sum of the personal debt of all citizens in the United States. c. indebtedness of the federal government in the form of outstanding interest-earning bonds. d. sum of the net personal debts of Americans to foreigners.
Many _________ businesses raise _________ of their capital through debt.
a. small; most b. small; none c. large; most d. large; none e. large; all