Refer to the graph below. The graph shows your weekly demand for pizza. How was this demand curve constructed?
a. by computing your optimal consumption of pizza at the various prices shown, all else the same
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When a government taxes the sale of beer, cooperative surplus ________ and society gets ________
A) increases; richer B) increases; poorer C) decreases; richer D) decreases; poorer
Which of the following explains the effect of prices on profits in the short-run?
a. The direct relationship between aggregate quantity demanded and national output. b. The direct relationship between aggregate quantity supplied and the price level. c. The inverse relationship between aggregate quantity demanded and national output. d. The inverse relationship between aggregate quantity supplied and profits. e. The inverse relationship between aggregate quantity supplied and national output.
When the Federal government uses taxation and spending actions to stimulate the economy it is conducting:
a. Employment policy b. Monetary policy c. Fiscal policy d. Incomes policy
The government regulates monopolies in order to
A. Protect consumers from false advertising. B. Prohibit mergers or acquisitions that would lessen competition. C. Ensure that product quality meets minimum standards, such as testing of new drugs. D. All of the choices are correct.