Figure 10-9
Currently, the economy depicted in is in
a.
long-run equilibrium at point b.
b.
short-run equilibrium at point c.
c.
long-run equilibrium at point a.
d.
short-run equilibrium at point a.
d
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Tools and equipments used in production are:
a. natural resources. b. entrepreneurial resources. c. human capital. d. capital resources. e. labor resources.
Based on the demand and marginal revenue curves for the monopolist, which formula is correct?
a. marginal revenue > price
b. marginal revenue < price
c. marginal revenue = price
d. marginal revenue – price = average revenue
Which of the following is the best definition of what economists define as total income?
A) payment for labor services B) payment for labor services and for ownership of other factors of production C) payment for labor services, for use of other factors of production, and gifts and government transfers D) inheritance
Refer to the information provided in Figure 27.1 below to answer the question(s) that follow.
Figure 27.1Refer to Figure 27.1. Suppose the economy is at Point A. A(n) ________ can cause a movement to Point D.
A. decrease in aggregate demand B. increase in the price level C. increase in aggregate demand D. decrease in the price level