An increase in the level of prices of goods and services will do what to the long-run aggregate supply curve?
A. make the curve flat
B. shift it to the right
C. shift it to the left
D. a movement along the curve
Answer: D
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Marking to market refers to
A) the determination of the prices of options contracts by the interaction of demand and supply. B) the determination of the prices of futures contracts by the interaction of demand and supply. C) the settlement of gains and losses on futures contracts each day. D) the settlement of gains and losses on forward contracts each day.
Horizontally summing different supply curves assumes
A) that individual firms cannot influence the good's price. B) that all firms operate in collusion. C) that only firms who volunteer are included in the summation. D) all firms produce the same amount of output.
If an idea has not been implemented because a monopoly producer has placed a barrier to entry, the circumstances are not normal due to:
A. innovation. B. market failure. C. intervention. D. goals other than profit.
Mr. Calhoun owned land on which cotton could be grown, but which he had been unable to rent for years. Suddenly he was getting offers from cotton farmers to lease his land. Which of the following best explains this change in circumstances? a. The price of cotton decreased
b. The price of cotton increased. c. The productivity of the land increased. d. Property taxes on the land increased.