Other things remaining same, a left shift in the demand curve will lead to:
A) an increase in the equilibrium price and the equilibrium quantity.
B) a decrease in the equilibrium price and the equilibrium quantity.
C) a decrease in the equilibrium price and an increase in the equilibrium quantity.
D) an increase in the equilibrium price and a decrease in the equilibrium quantity.
B
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If Pareto efficiency has been achieved
A) there are no additional Pareto improvements that can be made. B) surplus is maximized. C) economic efficiency is also achieved. D) All of the above.
Usury laws
a. limit the use of land to the production of only certain farm goods b. establish price ceilings on interest rates c. establish price floors on interest rates d. protect consumers from the excessive market power of the large agribusinesses who dominate many farm markets e. set the parity pricing ratios
If money demand shifted to the right and the Federal Reserve desired to return the interest rate to its original value, it could
a. buy bonds to increase the money supply. b. buy bonds to decrease the money supply. c. sell bonds to increase the money supply. d. sell bonds to decrease the money supply.
When do diminishing marginal returns occur?
(A) When some workers increase output but others decrease it. (B) When extra workers will have to wait their turn to be productive. (C) When the marginal product of labor increases as the number of workers increases. (D) When additional workers increase total output at a decreasing rate.