Each of the following would cause an increase in the supply of baseballs EXCEPT
A) an improvement in technology.
B) a decrease in the cost of labor used to produce baseballs.
C) an expectation that the price of baseballs will rise in the future.
D) an increase in the number of baseball producers.
C
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If the MPC in an economy is 0.8, government could shift the aggregate demand curve rightward by $100 billion by
A. increasing government purchases by $25 billion. B. decreasing taxes by $25 billion. C. increasing government purchases by $80 billion. D. decreasing taxes by $100 billion.
Which of the following is the best example of "how goods and services should be produced?"
A) complying with the technical specifications in the production of an aircraft B) the production of jet aircraft for the air force or for a commercial airline C) the use of additional workers versus the use of machines in the production of goods D) the production of a new manufacturing facility
In reality, decisions made by firms may not always produce maximum total profit because some executives
a. are more motivated by altruism. b. are more interested in market share than profits. c. may push research and development to the point that profits decline. d. All of the above are correct.
Higher indifference curves represent a greater level of utility than lower ones
a. True b. False Indicate whether the statement is true or false