The introduction of the Internet over the last 20 years has caused the:
A. long-run aggregate supply curve to shift to the left.
B. short-run aggregate supply curve to shift to the left.
C. long-run aggregate supply curve to shift to the right.
D. long-run aggregate supply to remain fixed.
Answer: C
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The tax that brings in the most revenue in the United States is the
A) capital gains tax. B) corporate income tax. C) Social Security tax. D) personal income tax.
All of the following might explain a firm offering quantity discounts except:
a. lower costs of handling large orders. b. an inelastic demand for the good. c. monopoly power in this market. d. existence of some high and some low demand consumers.
At the consumer's optimum
a. the budget constraint will have a slope of MUx/Px. b. it is still possible for the consumer to increase his consumption of both goods. c. the indifference curve will intersect the budget constraint at the midpoint of the budget constraint. d. the slope of the indifference curve is equal to the slope of the budget constraint.
If payments of $1000 are to be received every year for 20 years and the interest rate is positive, the present value of this stream will
A. equal $1000 × 20 ($20,000). B. increase as the interest rate increases. C. be less than $1000 × 20 ($20,000). D. exceed $1000 × 20 ($20,000).