If price increases and the quantity purchased increases, we know that
A. demand decreased.
B. supply decreased.
C. demand increased.
D. supply increased.
Answer: C
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Which of the following would increase the supply of physicians?
a. Making it easier for plaintiffs to prove medical malpractice claims b. Increasing the medical school entrance requirements to include 15 hours of economics c. Increasing the cost of attending medical school d. More scholarships and grants to cover medical school tuition e. Reducing the number of residency programs in some specialties in order to increase the number of family practice residencies
In the long run, in a monopolistically competitive market, price will be
A) equal to MR. B) equal to MC. C) greater ATC. D) equal to ATC.
Decreasing government spending and and an oil embargo will both have an effect towards increasing the price level.
Answer the following statement true (T) or false (F)
The settling of any net deficit in the combined current, and capital and financial accounts is done with:
A. Capital reserves B. Official reserves C. Net transfers D. Net investment income