Moving down along the market demand curve for hot dogs, the
A) maximum price that people are willing to pay for hot dogs increases.
B) marginal social benefit of hot dogs decreases.
C) marginal social cost of hot dogs increases.
D) consumer surplus of the last hot dog consumed increases.
B
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The rate at which a price index decreases is referred to as the:
A) cross inflation rate. B) deflation rate. C) reverse inflation rate. D) depreciation rate.
When a country's export spending exceeds import spending, the country is experiencing a:
A) trade deficit. B) trade surplus. C) budget deficit. D) none of the above.
The total revenue curve of a perfectly competitive firm
a. is horizontal b. is vertical c. has a diminishing slope as output increases d. has an increasing slope as output increases e. has a constant slope as output increases
In order to reestablish people's confidence in the banking system after the passage of the National Bank Act in 1864,
a. banks were no longer allowed to lend more than 10 percent of the value of their capital stock to any single borrower b. banks were encouraged to accept real estate as collateral for loans c. the office of Comptroller of the Currency was abolished d. the Treasury was encouraged to depreciate the currency as rapidly as possible e. Confederate notes and Greenbacks were accepted on a one-to-one basis