A graph of total profits is always likely to be positively sloped throughout its length
a. True
b. False
Indicate whether the statement is true or false
False
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The aggregate demand multiplier effect says that an initial increase in expenditure plans leads to an induced
A) increase in consumption expenditure. B) increase in production expenditure. C) increase in government expenditures on goods and services. D) decrease in the price level. E) increase in exports.
What would be the impact of a minimum wage that is set below the equilibrium wage that would otherwise prevail in the labor market?
What will be an ideal response?
If the demand elasticity for corn in the current marketing is -0.5 and you know that the demand curve is linear and it goes through 10 billion bushels at a price of $5.00 per bushel, then if production turns out to be 12 billion bushels, the price of corn will be
A. $3.00 B. $4.00 C. $5.00 D. $6.00
The non-income determinants of consumption include all of the following EXCEPT
A. stock of assets owned by household. B. real wealth. C. the interest rate. D. changes in business investment spending.