Factors that cause the short-run supply curve to change are factors that affect
A) demand.
B) fixed costs.
C) variable costs.
D) the market but not the individual firm.
C
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If Congress authorized the President to lower tax rates or to initiate spending projects when aggregate demand was inadequate, which consequence could be predicted most confidently?
A) Aggregate spending would be more stable over time. B) Recessions would be less severe. C) Recessions would occur less frequently. D) The political power of the President would increase. E) We would experience a lower rate of inflation.
Generally, the opportunity cost and the money cost of a good
a. are identical only if the good sells in a free market. b. are different. c. matter only to the purchaser of the good. d. are not reflected in its price.
The process of accumulation that occurs when interest is paid on previously earned interest is called:
A. backdating. B. compounding. C. present valuation. D. front loading.
Which of the following statements is false?
A) The shift factors for the supply curve are: income, preferences, prices of related goods, the number of buyers, and expectations of future price. B) A change in (own) price changes the quantity supplied of a good. C) A change in demand is graphically represented by a shift in the demand curve. D) A change in quantity demanded is represented by a movement along a given demand curve.