For a monopoly, for all units greater than one, the marginal revenue curve:
A. lies above the demand curve.
B. lies below the average revenue curve.
C. cannot be negative.
D. All of these statements are true.
B. lies below the average revenue curve.
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If the quantity of goods and services produced in an economy decreases,
A) it may be possible for nominal GDP to increase. B) real GDP will certainly increase. C) nominal GDP will certainly decrease. D) it may be possible for real GDP to increase.
Scarcity exists because
A) society and people are greedy and wasteful. B) our wants exceed the resources available to satisfy them. C) of the inefficient choices we make. D) poor people need more food and other goods.
In a two-country world, a decrease in foreign input prices, ceteris paribus,
A) shifts the SRAS curve leftward, causing the price level to increase. B) shifts the SRAS curve leftward, causing the price level to decrease. C) shifts the SRAS curve rightward, causing the price level to increase. D) shifts the SRAS curve rightward, causing the price level to decrease. E) does not affect the SRAS curve or the price level.
The two parts of planned aggregate expenditure are ________ expenditures and ________ expenditures.
A. autonomous; induced B. positive; normative C. real; nominal D. inflated; deflated