The quantity theory assumes that
a. velocity is constant.
b. income is constant.
c. prices are constant.
d. transactions are constant.
A
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Refer to Table 4-6. The equations above describe the demand and supply for Aunt Maud's Premium Hand Lotion. The equilibrium price and quantity for Aunt Maud's lotion are $20 and 30 thousand units. What is the value of producer surplus?
A) $600 thousand B) $300 thousand C) $150 thousand D) $30 thousand
All of the following will shift the demand curve for capital, except:
a. future expectations about the demand for the good produced by a firm. b. technological changes. c. the price of capital. d. the entry of new firms into the market. e. the change in the interest rate.
A point outside the production possibilities frontier _____
a. represents unemployment of resources. b. represents full employment of resources. c. would not represent an efficient combination of goods. d. cannot be reached using available technology. e. is less desirable than a point inside the frontier.
If competitive industry Y is incurring substantial losses, output will
What will be an ideal response?