The price ceiling causes a
A. shortage of 45 units.
B. surplus of 85 units.
C. shortage of 85 units.
D. surplus of 40 units.
C. shortage of 85 units.
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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.
People who hold well-diversified portfolios of stocks have greatly reduced or eliminated
a. firm-specific risk, and so they do not need to worry about their wealth decreasing as a result of recessions. b. market risk, and so they do not need to worry about their wealth decreasing as a result of recessions. c. firm-specific risk, but still they have reason to worry about their wealth decreasing as a result of recessions. d. market risk, but still they have reason to worry about their wealth decreasing as a result of recessions.
An increase in government spending
a. increases the interest rate and so investment spending increases. b. increases the interest rate and so investment spending decreases. c. decreases the interest rate and so increases investment spending increases. d. decreases the interest rate and so investment spending decreases.
Decisions to cut taxes are made by ________ and are an example of ________ policy.
A. Congress; fiscal B. the President; monetary C. the Federal Reserve; fiscal D. Congress; monetary