If a product's demand decreases as its supply simultaneously increases, the marginal revenue product curve will
A. shift to the left.
B. remain unchanged.
C. shift to the right.
D. either shift to the left, shift to the right, or remain unchanged depending upon what happens to product price.
Answer: A
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A) increases the domestic price of the good. B) decreases consumer surplus. C) results in a deadweight loss. D) All of the above.
As the price level falls, buyers require less money for their purchases and the demand for money falls. A decrease in the demand for money will cause business investment to increase. This is called the _____
a. interest rate effect b. exchange rate effect c. wealth effect d. accelerator effect
Consumer goods:
A.) Account for over two-thirds of total U.S. output. B.) Include nondurable goods but not durable goods. C.) Account for a smaller portion of GDP than government services. D.) Include durable and nondurable goods but not services.
The physical capital used by a woodworker to make furniture would include:
a) saws and rills b) wood and glue c) hard work and time d) a workshop and money