The money demand curve is
a. downward sloping
b. upward sloping
c. horizontal
d. vertical
e. has an inverted V-shape.
A
You might also like to view...
The above figure shows the market demand curve for telecommunication while driving one's car (time spent on the car phone). If the price were $2.50, consumer surplus equals
A) $301.00. B) $924.50. C) $1,225.50. D) $0
Suppose Kate's Great Crete (KGC) has annual variable costs of VC = 30Q + 0.0025Q2 and marginal costs of MC = 30 + 0.005Q, where Q is the number of cubic yards of concrete it produces per year. In addition, it has an avoidable fixed cost of $50,000 per year. KGC's demand function is Qd = 20,000 - 400P. What is KGC's total revenue function?
A. TR = 50Q - 0.0025Q2 B. TR = 50Q + 0.0025Q2 C. TR = 20,000 - 400P D. TR = 50 - 0.005Q
A perfectly competitive firm's supply curve follows the upward-sloping segment of its marginal cost curve above the:
a. average total cost curve. b. average variable cost curve. c. average fixed curve. d. average price curve.
A private closed economy will expand when:
A. actual GDP is less than potential GDP. B. unplanned decreases in inventories occur. C. aggregate expenditures are less than GDP. D. unplanned increases in inventories occur.