On the graph above (and considering the short run only), a combination of a negative demand shock and a negative supply shock may be represented by the movement from point ________ to point ________
A) G; I
B) H; F
C) H; I
D) G; F
E) G; H
A
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Advice on taxes, accounting or management information systems, and business strategies are commonly referred to as ________ services
A) accounting audit B) management advisory C) seller D) managing underwriter
Suppose the law of diminishing marginal utility holds for coffee. As a person drinks more coffee during the day, the total utility he or she receives will:
a. increase faster and faster. b. fall steadily. c. remain constant. d. rise, but at slower and slower rates.
What do most economists believe about international trade?
a. It benefits all participants with no one harmed in the country. b. It benefits only big corporation but harms everyone else in a country. c. It benefits the majority of people but some people are harmed. d. It benefits no one and harms many people in the economy.
Refer to the graph shown. Total cost of producing Q* is represented by:
A. area 0Q*CD. B. area 0Q*AF. C. area 0Q*BE. D. cannot be determined.