Refer to the information provided in Figure 1.3 below to answer the question(s) that follow.
Figure 1.3Refer to Figure 1.3. The slope of the line between Points D and C is
A. -3.
B. -0.33.
C. 0.33.
D. 3.
Answer: D
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In the short run, a perfectly competitive firm can earn positive, zero, or negative profit depending on the market price of the firm's output
Indicate whether the statement is true or false
Economists believe that most individuals act as if they are motivated by self-interest and: a. respond selfishly
b. respond in predictable ways to changing circumstances. c. it leads to inconsistent and unpredictable behavior. d. all of the above.
Figure 10-4
In Figure 10-4, if full employment occurs at an output level of 4,000 and the economy is currently at an output level of 5,000 then we can expect a(n)
a.
increase in autonomous consumer spending that shifts the aggregate demand curve to the left.
b.
increase in wages that will shift the aggregate supply curve to the left.
c.
decrease in investment spending that shifts the aggregate demand curve to the left.
d.
decrease in wages that will shift the aggregate supply curve to the left.
A group of tasks performed by one person is a(n) _____.
A. position B. job C. family D. incumbent