A decrease in taxes would shift the:
A) aggregate demand curve rightward.
B) aggregate demand curve leftward.
C) aggregate supply curve rightward.
D) aggregate supply curve leftward.
A
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The assumption that the magnitude of the slope of an indifference curve decreases moving to the right along the indifference curve is known as the assumption of
A) the price effect. B) a diminishing marginal rate of substitution. C) an increasing marginal rate of substitution. D) an indifference curve effect.
Third-degree price discrimination refers to situation in which:
A) a firm charges different prices for different blocks of output. B) a firm separates markets according to the price elasticity of demand. C) a firm is able to charge the maximum price consumers are willing to pay for each unit of output. D) a firm divides a market into thirds and charges each segment a different price.
When the Keynesian-cross model is in equilibrium, income equals output and aggregate expenditure equals output
a. True b. False Indicate whether the statement is true or false
The largest sector in the consumer price index market basket is food and beverage purchases
a. True b. False Indicate whether the statement is true or false