Suppose that the central bank unexpectedly increases the growth rate of the money supply. In the short run the effects of this are shown by
a. moving to the left along the short-run Phillips curve.
b. moving to the right along the short-run Phillips curve.
c. shifting the short-run Phillips curve to the right.
d. shifting the short-run Phillips curve to the left.
a
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Consumer surplus in a market for a product would be equal to the area under the demand curve if
A) the product was produced in a perfectly competitive market. B) marginal cost was equal to the market price. C) the market price was zero. D) producer surplus was equal to zero.
Pizza joints often offer substantially lower prices for pizza picked up at the shop compared to delivered pizza prices. This may be an attempt at
A) perfect price discrimination. B) group price discrimination. C) quantity discrimination. D) second-degree price discrimination.
Equilibrium price is _____.
The primary technique used by business owners when they are facing mounting obligations and do not have the resources to finance continued operations is
a. informal reorganization b. informal liquidation c. bankruptcy d. selling the business e. none of these