In the Keynesian region of the aggregate supply curve:
a. increases in aggregate demand are associated with decreases in output, but not with increases in prices.
b. decreases in aggregate demand are associated with increases in prices, but not with increases in output.
c. increases in aggregate demand are associated with increases in output, but not with increases in prices.
d. decreases in aggregate demand are associated with increases in output, but not with increases in prices.
e. increases in aggregate demand are associated with increases in prices, but not with increases in output.
c
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Which of the following type of firm is not a price taker in the market in which the firm buys its inputs?
a. Perfect competition. b. Monopsony. c. Oligopoly. d. Monopoly.
People have become more concerned about the negative health effects of eating carbohydrates and fat. Considering these effects only, which of the following best describes the likely effect of this trend on the market for high-carb, high-fat snacks?
A. Demand and supply both shifted to the left leading to a decline in equilibrium price and quantity. B. Demand shifted to the left leading to a decline in equilibrium price and quantity. C. Quantity demanded fell leading to a decline in equilibrium price and quantity. D. Supply shifted to the left leading to a rise in equilibrium price and a decline in equilibrium quantity.
Using the table above, what is the marginal product of the 5th worker hired at Decent Donuts?
A) 86 dozen donuts per day B) 22 dozen donuts per day C) 17.2 dozen donuts per day D) 64 dozen donuts per day
Which one of these statements is correct? a. The lower the interest rate, the higher the opportunity cost of holding assets in the form of money. b. The quantity of money supplied is independent of the interest rate
c. The larger the supply of money, the higher the interest rate, all things equal. d. Travelers checks and government bonds are equally liquid assets. e. The demand for money increases whenever the price level decreases.