A leftward shift of a supply curve represents a decrease in supply
a. True
b. False
A
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The amount of investment demand at each interest rate falls. If the Fed holds to an unchanged interest rate target, the change in GDP is __________ if it had held to an unchanged money supply target
A) greater than B) less than C) the same as
If for any given inflation rate, the federal government lowered taxes, ________
A) it would have a similar qualitative result on output as an increase in government purchases B) it would raise disposable income leading to higher consumption spending C) the aggregate demand curve would shift to the right D) all of the above E) none of the above
The monopolist should NEVER produce in the
A) elastic segment of its demand curve because it can increase total revenue and reduce total cost by lowering price. B) inelastic segment of its demand curve because further lowering of the price reduces total revenue. C) range of output for which the price elasticity of demand is infinity. D) range of output for which there is a price elasticity exceeding one.
The various ways that vertical relationships can evade regulation include
a. tying the sale of a regulated good to a customer's choice of an unregulated good b. bundling regulated and unregulated goods c. preventing the exclusion of rival unregulated goods d. insuring tax rates are uniform across jurisdictions