A reduction in regulation will shift the aggregate:
A. supply curve leftward.
B. supply curve rightward.
C. demand curve leftward.
D. demand curve rightward.
Answer: B
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Refer to Figure 13-13. What is the area that represents the firm's profit?
A) profit = 0 B) P3baP2 C) P4edP2 D) P4eaP1
If an item has several good substitutes, the demand curve for that item is likely to be
A) relatively inelastic. B) relatively elastic. C) perfectly inelastic. D) unit elastic.
In absolute terms, poverty is measured as:
a. a specific value on the quality-of-life index. b. the ratio of family income to family size. c. the ratio of family size to family food consumption. d. the ratio of total population to national income. e. a specific value of per capita GNP.
The four key markets that coordinate the circular flow of income are
What will be an ideal response?