Laws that governments enact to regulate prices are called price barriers.
Select whether the statement is true or false.
A. True
B. False
B. False
This statement is false. Laws that governments enact to regulate prices are called price controls.
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Joe consumes pizza and movies. Pizza and movies are substitutes. According to marginal utility theory, if the price of a pizza rises then
A) the demand curve for pizza shifts leftward. B) the demand curve for pizza shifts leftward and the demand curve for movies shifts rightward. C) there is an upward movement along the demand curve for pizza. D) there is an upward movement along the demand curve for pizza and the demand curve for movies shifts rightward.
The above figure shows the demand and cost curves facing a monopoly. A $100 per unit tax would raise price by
A) $100. B) $50. C) $25. D) $0.
In the short-run, a firm's supply curve is equal to the
a. marginal cost curve above its average variable cost curve. b. marginal cost curve above its average total cost curve. c. average variable cost curve above its marginal cost curve. d. average total cost curve above its marginal cost curve.
In fiscal year 1997, the U.S. government ran a deficit of about $21.9 billion. In fiscal year 1998, the government ran a surplus of about $69.3 billion. Other things the same, we would expect this change
a. decreased interest rates and investment. b. decreased interest rates and increased investment. c. increased interest rates and investment. d. increased interest rates and decreased investment.