If a hurricane were to wipe out the majority of the eastern seaboard in the United States:
A. neither the short-run nor long-run aggregate supply curves would be affected.
B. only the long-run aggregate supply curve would shift left.
C. only the short-run aggregate supply curve would shift left.
D. the long-run and short-run aggregate supply curves would both shift left.
Answer: D
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In the United States, the good or service given the most weight in the CPI basket when calculating the CPI is
A) food and beverages. B) taxes. C) medical care. D) housing. E) recreation.
Environmentalists tend to prefer pollution taxes to marketable permits because the taxes impose specific limits on the quantity of pollution
a. True b. False Indicate whether the statement is true or false
Figure 11-5
In Figure 11-5, Crown Theater, a monopolist movie theater, will make a profit of ____ at its profit-maximizing price and quantity of theater tickets.
a.
$450
b.
$150
c.
$300
d.
$750
The study of how people (or firms) behave in strategic situations is called:
A. cost-benefit analysis. B. recursive analysis. C. normative economics. D. game theory.