What causes the market supply curve to shift rightward?
a. Increase in the aggregate demand
b. Decrease in the number of existing firms
c. Decrease in the price level
d. Increase in the cost of production
e. Entry of new firms
e
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According to the equation of exchange, the
A) quantity of money divided by the inflation rate equals real GDP. B) quantity of money minus the velocity of circulation equals real GDP minus the price level. C) quantity of money multiplied by the velocity of circulation equals nominal GDP. D) velocity of circulation is always smaller than the inflation rate. E) quantity of money multiplied by the inflation rate equals nominal GDP.
A socially-optimal price regulation will NOT work if:
A) marginal cost is less than average total cost. B) marginal cost is less than average fixed cost. C) marginal cost is greater than average total cost. D) marginal cost is greater than average fixed cost.
Would a law that required the federal government to balance the budget on an annual basis contribute to more or less stability in the economy? Why?
What will be an ideal response?
Each of the following, except one, is an example of a nonmonetary job characteristic. Which is the exception?
a. the monthly wage b. safety c. potential for advancement d. required physical exertion e. leisure activities available in the surrounding community