Which of the following expressions equals profit per unit of output?
a. MR - MC
b. P - AVC
c. MR - P
d. P - ATC
e. MR - ATC
D
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Which of the following would cause the IS curve to shift to the left?
A) an increase in government expenditures B) a decrease in the money supply C) an increase in domestic investment D) a decrease in taxes
It has been observed that people surveyed shortly after major air crashes estimate higher probabilities that a given flight will crash than people surveyed during intervals without any. The error in reasoning observed in this experiment results from:
a. availability heuristics. b. representative heuristics. c. population heuristics. d. selection bias.
What is the main cause of shifting the aggregate supply curve?
a. Changes in productivity b. Changes in amount sold c. Changes in amount demanded d. Changes in costs
Shortages are associated with price _______; surpluses are associated with price _______.
A. floors; ceilings B. ceilings; floors C. equilibrium; equilibrium D. None of these choices are correct.