What happens to quantity demanded when price is lowered?
A. It rises
B. It falls
C. It stays the same
D. It cannot be determined if it rises, falls, or stays the same
A. It rises
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In risk characterization, a reference dose (RfD) of 0.007 means that
a. 0.7 percent of people are exposed to the environmental hazard b. exposure to 0.007 milligrams of a pollutant per body weight per day over a lifetime should cause no harm c. there is a 0.007 percent probability that the pollutant causes no harm d. 7 out of 1 million people are affected by the pollutant
The short-run aggregate supply curve is: a. upward-sloping
b. downward-sloping. c. horizontal. d. vertical.
Movements along the consumption function are called
a. autonomous consumption. b. leakage consumption. c. induced consumption. d. injected consumption.
In the long run, a monopolistically competitive firm that is incurring a loss will ________ if total revenue is less than variable costs.
A. increase its output B. decrease its output C. shut down D. continue to produce its current output