A demand curve:
A. Shows the relationship between price and quantity supplied.
B. Indicates the quantity demanded at each price in a series of prices
C. Graphs as an up sloping line
D. Shows the relationship between income and spending
Ans: B. Indicates the quantity demanded at each price in a series of prices
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Which of the following is true of labor force participation rates in the United States since the 1950s? a. The rates for both men and women have risen
b. The rate for women has fallen; the rate for men has risen. c. The rate for men has fallen; the rate for women has increased. d. The rates for both men and women have fallen. e. The rates for both men and women have remained fairly constant.
A profit-maximizing firm will shut down in the short run when
a. price is less than average variable cost. b. price is less than average total cost. c. average revenue is greater than marginal cost. d. average revenue is greater than average fixed cost.
When the Fed sells bonds, bank reserves increase.
a. true b. false
The marginal propensity to consume is difficult to estimate because
a) it depends on expectations of future income b) it depends on perceptions regarding the permanence of changes in income c) it depends on credit and borrowing constraints d) it declines as uncertainty increases e) all of the above