As the capital stock reduces , we would expect the long-run aggregate supply curve to
A. shift right.
B. remain the same.
C. shift left.
D. first shift right, then shift left.
Answer: C
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A good example of a monopolistic competitive industry is
A) the U.S. auto industry. B) the public utility industry. C) the computer game industry. D) mining.
The best measure of money is
A) coins and currency. B) the one based on the transactions approach. C) the one based on the liquidity approach. D) something economists have never agreed on.
If the government were to intervene in a market economy and fix the price of visiting a health care provider below the market price, then we would expect, relative to the market outcome,
a. an increase in the number of visits people want to make and an increase in the number of visits health care providers want to provide. b. an increase in the number of visits people want to make and a decrease in the number of visits health care providers want to provide. c. a decrease in the number of visits people want to make and an increase in the number of visits health care providers want to provide. d. a decrease in the number of visits people want to make and a decrease in the number of visits health care providers want to provide.
When flat screen televisions were first introduced in 1997 they were priced at $15,000. If the CPI in 1997 was 160 and the CPI in 2019 is 265, then this price is equivalent to approximately ______________________in 2019 dollars. If the average flat screen TV sells for $550 in 2019, the percentage change between the inflation-adjusted price of a flat screen TV in 1997 and the actual pricein 2019 price is __________
a. $15,469; -96.4 percent b. $19,887; -95.6 percent c. $24,844; -97.7 percent d. $154; 3.6 percent e. $367; 8.3 percent