Which of the following would cause an unambiguous decrease in the real price of DVD players?
A) A shift to the right in the supply curve for DVD players and a shift to the right in the demand curve for DVD players.
B) A shift to the right in the supply curve for DVD players and a shift to the left in the demand curve for DVD players.
C) A shift to the left in the supply curve for DVD players and a shift to the right in the demand curve for DVD players.
D) A shift to the left in the supply curve for DVD players and a shift to the left in the demand curve for DVD players.
B
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How does the text distinguish between government and the market?
A) The government is the place around the capital city; the market is everywhere else. B) The government is populated with publicly-spirited people; the market is populated with selfish people. C) The government is based on cooperation; the market is based on competition. D) In all of the above ways. E) In none of the above ways.
Joe's hotdog stand merges with a company that supplies the condiments to Joe's. This is an example of
A) conglomerate merger. B) concentration ratio. C) vertical merger. D) horizontal merger.
Properties of long-run competitive equilibrium with free entry include:
A. an equilibrium price equal to the minimum AC. B. firms earning zero profits. C. active firms producing at their efficient scales of production. D. All of these are properties of long-run competitive equilibrium.
The Monetarist transmission mechanism through which monetary policy affects the price level, real GDP, and employment depends on the:
a. indirect impact of changes on profit expectations. b. direct impact of changes in the money supply on aggregate demand. c. direct impact of changes in fiscal policy on aggregate demand. d. indirect impact of changes on the interest rate.