If new firms enter the computer manufacturing industry, then, holding all other things constant,
A. each “old” manufacturer must sell fewer computers than before.
B. some “old” manufacturers must exit the industry.
C. the equilibrium price of computers will rise.
D. the equilibrium quantity demanded of computers will rise.
Answer: D
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The above figure shows Dana's marginal benefit curve for ice cream. If the price of ice cream is $2 per gallon, then Dana's consumer surplus from the 4th gallon
A) is greater than her consumer surplus from the 8th gallon. B) is the same as her consumer surplus from the 8th gallon. C) is less than her consumer surplus from the 8th gallon. D) could be greater than, equal to, or less than the consumer surplus from the 8th gallon.
From 1945 until 1973, the U.S. economy experienced ________
A) rapid inflation B) no major recessions or depressions C) minimal interaction with the global economy D) all of the above E) none of the above
If the U.S. dollar depreciates in value relative to foreign currencies, then this will:
A. increase aggregate demand. B. cause a movement along the aggregate supply curve. C. cause a movement along the aggregate demand curve. D. decrease aggregate demand.
What are the three major types of quotas?
What will be an ideal response?