The equilibrium price will rise and the equilibrium quantity might increase, decrease, or stay the same when the
A) demand and the supply of a good both increase.
B) demand for a good increases and the supply of it decreases.
C) demand for a good decreases and the supply of it increases.
D) demand and the supply of a good both decrease.
B
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Based on the figure above, curve D is the firm's
A) marginal cost curve. B) total cost curve. C) average total cost curve. D) average variable cost curve. E) average fixed cost curve.
Which of the following is NOT considered a payment in the balance of payments?
A) capital outflows B) U.S. foreign aid to other countries C) imports of goods D) exports of services
Which of the following can serve as a barrier to entry?
a. legal restrictions b. patents c. control of scarce inputs or resources d. all of the above
If the price of inputs rises and personal income taxes rise:
a. Price index falls, and real GDP rises. b. Price index falls, and real GDP falls. c. Price index falls, and the change in real GDP is uncertain. d. The change in price index is uncertain, and real GDP rises. e. The change in price index is uncertain, and real GDP falls.