In the above figure, the monopolist's profit-maximizing price is
A) A.
B) B.
C) C.
D) D.
A
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In the first half of 2011, automobile sales in the United States were lower than they were in the first half of 2010
The decrease in auto sales impacts GDP because new automobiles are counted as ________ when purchased by households and ________ when purchased by businesses. A) consumption; investment B) investment; consumption C) durable goods; nondurable goods D) nondurable goods; durable goods
Describe one important criticism of Rostow's stages of economic growth theory
What will be an ideal response?
Sarah's demand curve for whiskey has the same slope as Pete's; however, it lies to the right of Pete's. An increase in the price of whiskey will cause
A) Sarah to incur a greater loss of consumer surplus than Pete will. B) Pete to incur a greater loss of consumer surplus than Sarah will. C) Sarah and Pete to incur the same loss of consumer surplus. D) Sarah's demand curve to shift closer to Pete's.
Consider the above figure. If the aggregate demand fell from AD1 to AD2, our nation would be experiencing
A) an inflationary gap. B) a recessionary gap. C) overemployment. D) rising prices.