Which of the following is a determinant of the market supply curve but not a determinant of an individual seller's supply?
a. production technology
b. expectations
c. input prices
d. the number of sellers
d
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An increase in real GDP leads to
A) a movement upward along the demand for money curve but no shift of the curve. B) a movement downward along the demand for money curve but no shift of the curve. C) neither a shift in the demand for money curve nor a movement along the curve. D) a leftward shift in the demand for money curve. E) a rightward shift in the demand for money curve.
A common resource is used efficiently if marginal social benefit equals marginal social cost
Indicate whether the statement is true or false
An economic variable that moves in the opposite direction as aggregate economic activity (down in expansions, up in contractions) is called
A) procyclical. B) countercyclical. C) acyclical. D) a leading variable.
Maximizing total revenue is the same as maximizing profit
a. True b. False