The bond supply curve is ________ sloping, indicating a(n) ________ relationship between the price and quantity supplied of bonds, everything else equal
A) downward; inverse
B) downward; direct
C) upward; inverse
D) upward; direct
D
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Other things equal, a fall in the market price caused by a change in supply will
a. decrease consumer surplus. b. increase producer surplus while leaving consumer surplus unchanged. c. increase consumer surplus. d. decrease producer surplus while leaving consumer surplus unchanged.
The long-run aggregate supply curve illustrates the
A) relationship of the price level and real GDP when the economy is at full employment. B) relationship of the price level and real GDP when the economy is at zero unemployment. C) amount of products producers offer at various prices when money wages and other resource prices are fixed. D) surpluses, shortages and equilibrium level of GDP.
Arturo runs a Taco Bell franchise. He is selling 250 Gordita Supremes per week at a price of $2.75. If he lowers the price to $2.70, he will sell 251 Gordita Supremes
What is the marginal revenue of the 251st Gordita Supreme? If selling the extra Gordita Supreme adds $0.20 to Arturo's costs, what will be the effect on his profit from selling 251 Gordita Supremes instead of 250?
State governments receive half of their tax revenue from property taxes.
Answer the following statement true (T) or false (F)