For a steel factory, a decrease in the cost of electricity to the plant will cause the supply curve to:
A. become parallel to the price axis.
B. shift to the left.
C. shift to the right.
D. become flatter.
Answer: C
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In the above figure, suppose the economy is initially at point A. People come to expect the future U.S. exchange rate to be higher. As a result there is a change from point A to a point such as ________
A) point B B) point C C) point D D) point E
Monopolistic competition is associated with
A) product differentiation. B) price-taking behavior. C) explicit consideration at the firm level of the strategic impact of other firms' pricing decisions. D) high profit margins in the long run. E) increasing returns to scale.
Refer to Table 4.2. With which scenario will you be worst off by investing in Japanese bonds instead of U.S. bonds?
A) A B) B C) C D) D
Capital income includes:
A. capital gains from stock sales. B. profits, rent, and interest. C. wages and salaries. D. earnings of the self-employed.