A demand-pull inflation initially is characterized by...
What will be an ideal response?
increasing real output and a labor shortage
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If there is an increase in expected future income, then
A) the aggregate demand curve shifts rightward. B) the aggregate demand curve shifts leftward. C) there is an upward movement along the aggregate demand curve. D) there is a downward movement along the aggregate demand curve. E) the aggregate demand curve becomes steeper.
If income increases due to a decrease in taxes, then
A) utility will increase because consumers can afford a larger bundle of goods. B) utility will fall because consumers will be forced to buy a smaller bundle of goods. C) utility will remain constant. D) utility will increase because consumers will be forced to buy a smaller bundle of goods.
A pair of jeans is rival but non-excludable
a. True b. False Indicate whether the statement is true or false
Refer to Scenario 9.2 below to answer the question(s) that follow. SCENARIO 9.2: Tom borrowed $40,000 from his parents to open a donut stand. He agrees to pay his parents a 5% yearly return on the money they lent him. His other yearly fixed costs equal $10,000. His variable costs equal $25,000. He sold 40,000 dozen donuts during the year at a price of $2.00 per dozen.Refer to Scenario 9.2. Tom's total revenue was
A. $30,000. B. $40,000. C. $45,000. D. $80,000.