Refer to the diagram. An increase in extraction costs could be shown by:
A. an increase in the first year quantity extracted.
B. a shift from TC 1 to TC 0 .
C. a shift from TC 0 to TC 1 .
D. an upward shift of the price line.
C. a shift from TC 0 to TC 1 .
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Keynesians believe that an increase in the money supply may lead to
a. a decrease in investment b. an increase in the interest rate c. an increase in the price level d. a decrease in nominal GDP e. an increase in real GDP
A form of economic organization that relies primarily on private ownership of productive assets, freedom of exchange, and market prices to allocate goods and resources is often called
a. national socialism. b. the welfare state. c. a corporate economy. d. capitalism.
Refer to the diagram. At output level Q total fixed cost is:
A. 0BEQ.
B. BCDE.
C. 0BEQ - 0AFQ.
D. 0CDQ.
Under a fractional reserve banking system,
A) banks keep a fraction of their reserves on hand as deposits. B) banks keep all of their reserves on hand as deposits. C) banks keep a fraction of their deposits on hand as reserves. D) banks keep all of their deposits on hand as reserves.