Higher gasoline prices would likely raise the price of large, gas-guzzling automobiles
a. True
b. False
Indicate whether the statement is true or false
False
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If the demand curve for bologna shifts to the right as income falls then bologna is a(n):
A. inferior good. B. complementary good. C. normal good. D. substitute good.
If a financial institution extends a 25 year loan at a 6 percent interest rate, and then the inflation rate increases suddenly and unexpectedly to 6 percent per year, the institution receives on its loan a real return of
A) minus 12 percent. B) zero percent. C) 6 percent. D) 12 percent. E) 36 percent.
Refer to Figure 15-3. Suppose the monopolist represented in the diagram above produces positive output. What is the profit/loss per unit?
A) loss of $7 per unit B) profit of $14 per unit C) profit of $30 per unit D) loss of $21 per unit
Economic growth is represented by a:
A. leftward shift of a production possibilities curve. B. rightward shift of the long-run aggregate supply curve (LRAS). C. horizontal long-run aggregate supply curve (LRAS). D. downward shift of an aggregate production function.