Identify the variables that could cause shifts in both the short-run and long-run aggregate-supply curves
labor, capital, natural resources, and technology
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Joanne rents a TV production studio to produce an extra hour of a TV show. The rent is
A) a private cost and not an external cost. B) an external cost and not a private cost. C) both a private cost and an external cost. D) neither a private cost nor an external cost. E) a private benefit because viewers will benefit from watching the extra hour of the show.
Refer to the information provided in Figure 6.8 below to answer the question(s) that follow.
Figure 6.8Refer to Figure 6.8. The ________ movie rental has a marginal utility of fifteen.
A. first B. second C. third D. fourth
Refer to Figure 19-11. The graph above depicts supply and demand for British pounds during a trading day, where the quantity is millions of pounds. In order to support a fixed exchange rate of $2.00 per pound, the British central bank must
A) buy 0.6 million pounds per trading day. B) sell 1.2 million pounds per trading day. C) buy 1.2 million pounds per trading day. D) sell 0.6 million pounds per trading day.
If the menu cost theory is true, then firms that change prices less frequently than other firms are likely to be in
A) more competitive industries. B) service, rather than manufacturing, industries. C) growing, rather than declining, industries. D) less competitive industries.