Households ________ factors of production and ________ goods and services
A) supply; demand
B) supply; supply
C) demand; supply
D) demand; demand
Answer: A
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In the above figure, if a Medicare subsidy that had previously been paid by the government has now been eliminated, the result will be
A) an increase in the price received by producers, from P0 to Ps. B) a decrease in the price received by producers, from Ps to P0. C) an increase in the price paid by consumers, from P0 to Ps. D) a decrease in the price paid by consumers, from Ps to P0.
The Monetarists advocate the monetary rule in order to stabilize the business cycle which states that the money supply should be increased by a constant rate year after year
a. True b. False Indicate whether the statement is true or false
The cost associated with foregoing the opportunity to employ a resource in its best alternative use is called:
A. a sunk cost. B. an opportunity cost. C. a fixed cost. D. total cost.
Technological improvements cause
A. The supply curve to shift to the left. B. ATC to shift down. C. P to increase. D. MC to shift up.