Firms face trade-offs in production, including decisions related to:
A) which products to produce.
B) how much of a particular product to produce.
C) the best way to produce a given amount of output.
D) all of the above
D
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Tax cuts on business income increase aggregate demand by increasing
A) wage rates. B) government spending. C) consumption spending. D) business investment spending.
The closer monopolistic competition gets to perfect competition
a. the more vertical the AR curve. b. the more horizontal the AR curve. c. the greater the difference between AR and MR. d. the greater the profit.
Which of the following is an outcome of economic variables not moving in sync with inflation?
a. unintended redistributions of purchasing power b. intentional redistributions of purchasing power c. better long-term planning d. decrease in blurred price signals
A price floor keeps a price:
a. from rising above a certain level. b. from decreasing below a certain level. c. at a stabilized point. d. from increasing or decreasing.