A firm that faces a downward sloping demand curve is
A) a price taker.
B) a price provider.
C) a price searcher.
D) a price creator.
Answer: C
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What are the key differences between how we illustrate an expansionary fiscal policy in the basic aggregate demand and aggregate supply model and in the dynamic aggregate demand and aggregate supply model?
What will be an ideal response?
Many call centers that provide telephone customer services for U.S. companies have been established in India, but few or none have been established in China. Why?
A. China lacks the political infrastructure to support call centers. B. China is at a more advanced stage of economic development than India. C. Indian labor costs are lower than Chinese labor costs. D. Chinese labor lacks the specific language skills needed to make call centers profitable in China.
Income decreases cause a decrease in a household's choice set.
Answer the following statement true (T) or false (F)
Refer to the above table. If a government sector is introduced and a lump-sum tax of $30 billion is imposed at all levels of GDP, then the consumption column in the table becomes:
The data below is the consumption schedule in an economy. All figures are in billions of dollars.
A. $420, 460, 500, 540, 580
B. $426, 466, 506, 546, 586
C. $430, 470, 510, 550, 590
D. $432, 472, 512, 552, 592