If the demand for money decreases, ceteris paribus, the LM curve would:
A) shift right.
B) shift left.
C) remain constant.
D) slope more steeply.
Ans: B) shift left.
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Refer to Figure 9-3. With a quota in place, what is the quantity consumed in the domestic market and what portion of this is supplied by imports?
A) Domestic consumption equals 40 million pounds of which 22 million pounds are imports. B) Domestic consumption equals 34 million pounds of which 18 million pounds are imports. C) Domestic consumption equals 34 million pounds of which 16 million pounds are imports. D) Domestic consumption equals 28 million pounds of which 18 million pounds are imports.
Refer to Table 23-3. Given the consumption schedule in the table above, the marginal propensity to consume is
A) 0.1. B) 0.3. C) 0.6. D) 0.9.
Has world trade increased continually over the 60 years?
What will be an ideal response?
A monopolist will maximize profits by
a. setting the price at the level that will maximize per-unit profit. b. producing the output where marginal revenue equals total cost and charging a price along the demand curve. c. selling at the price on the demand curve at the output rate where marginal revenue equals marginal cost. d. producing at the output rate where price equals marginal cost.