Fill in the table. Assume the fixed cost is $600.
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An increase in government spending causes the equilibrium level of aggregate output to ________ at any given interest rate and shifts the ________ curve to the ________, everything else held constant
A) rise; LM; right B) rise; IS; right C) fall; IS; left D) fall; LM; left
For each of the following pairs of products, state which are complements, which are substitutes, and which are unrelated
a. House plants and potato chips b. Eyeglasses and contact lenses c. Motorcycles and gasoline d. Smartphones and smartphone apps e. Red wine and white wine
A television signal sent by cable is ________ in consumption, and viewers are ________.
A. rival; nonexcludable B. rival; excludable C. nonrival; nonexcludable D. nonrival; excludable
If there is a shortage of gasoline, then
A) the purchase plans of buyers are not being fully achieved. B) buyers will tend to compete amongst themselves for more gasoline. C) the price of gasoline will tend to rise. D) all the above are true. E) none of the above is true.