In the above figure, the curve has a slope that is ________
A) positive and becoming larger in magnitude
B) positive and becoming smaller in magnitude
C) negative and becoming larger in magnitude
D) negative and becoming smaller in magnitude
C
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Acme is a perfectly competitive firm. It has the cost schedules given in the above table and has a fixed cost of $12.00. The price of Acme's product is $4.00
What is Acme's most profitable amount of output? What is Acme's total economic profit or loss?
The income effect
a. of a price increase works to increase the quantity of the good demanded b. of a price increase works to decrease the quantity of the good demanded c. of a price decrease works to increase the quantity of the good demanded d. of a price decrease works to decrease the quantity of the good demanded e. of a price decrease could work to increase or decrease the quantity of the good demanded
Suppose the economy is suffering in a recessionary period. Firms are facing increasing inventories and individual consumers are increasing their saving to prepare for hard times ahead. What is likely to happen to the economy and can it correct itself and grow toward full employment in the short run?
When a government reduces its budget deficit, then that country's
a. supply of loanable funds shifts right. b. supply of loanable funds shifts left. c. demand for loanable funds shifts right. d. demand for loanable funds shifts left.