A price setter is a firm that:
A. has some degree of control over its price.
B. has the ability to set price at any level it wishes.
C. attempts but fails to be perfectly competitive.
D. faces perfectly inelastic demand.
Answer: A
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Cost-push inflation occurs
A) when the aggregate supply curve shifts to the left, while aggregate demand remains stable. B) when the aggregate demand curve shifts to the left, while aggregate supply remains stable. C) when the aggregate supply curve shifts to the right, while aggregate demand remains stable. D) when the aggregate demand curve shifts to the right, while aggregate supply remains stable.
If exchange rates are floating, a contractionary monetary policy in the United States will cause the dollar to ________ relative to other currencies and cause net capital outflows to ________
A) appreciate; increase B) appreciate; decrease C) depreciate; increase D) depreciate; decrease
If Sam's $800 earns him a 6 percent rate of interest, each year he receives
a. $480 b. $48 c. $4.80 d. $80 e. $75
As people consume more and more of a particular good or service, we can predict that _____________ .
a. Marginal utility of each additional good consumed will fall and total utility will increase, but more rapidly than before b. Marginal utility of each additional good consumed will fall and total utility will increase, but more slowly than before c. Marginal utility of each additional good consumed will rise and total utility will increase, but more rapidly than before d. Marginal utility of each additional good consumed will rise and total utility will increase, but more slowly than before.