Which of the following is included in the Pig Book?
a. New federal laws that serve only a local purpose
b. Government programs that were recently expanded
c. Legislators who regularly skip Senate hearings
d. Judges who uphold questionable legislation
a. New federal laws that serve only a local purpose
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To maximize profit, a perfectly competitive firm
A) should sell the quantity of output determined by the interaction between industry demand and supply. B) should produce the quantity of output that results in the greatest difference between marginal revenue and marginal cost. C) should sell the quantity of output that results in a value for total revenue that is equal to total cost. D) should produce the quantity of output that results in the greatest difference between total revenue and total cost.
What is one reason online prices might be considerably lower than brick-and-mortar prices?
A) Online retailers engage in more price discrimination. B) Brick-and-mortar retailers engage in more price discrimination. C) Brick and mortar retailers may have higher costs. D) Online retailers are more likely to have steep demand curves.
A rightward shift of the investment demand curve could be caused by:
a. a technological advance. b. optimism about long-term growth. c. forecasts of favorable business conditions. d. an increase in confidence in short-run economic conditions. e. any of these.
The interest rate effect states that an increase in the price level will cause:
a. a decline in the interest rate. b. a decrease in investment and aggregate expenditures. c. an increase in the equilibrium level of income. d. a decrease in the supply of financial assets. e. an increase in real wealth.