The AD curve shows that, as the price level falls the quantity of
A) GDP demanded increases.
B) GDP demand decreases.
C) Real GDP demanded increases.
D) Real GDP demanded decreases.
E) none of the above
C
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In economics, ________ are limited but ________ are unlimited.
A) wants; resources
B) resources; wants
C) money; ideas
D) ideas; money
Consumption goods and services include
A) washing machines and tickets to football games. B) new homes and existing homes (as long as improvements have been made to the existing home). C) tickets to concerts and medical care provided to veterans by the government. D) new and used textbooks as long as they are sold via stores or online. E) vacation time accumulated by workers.
The table above shows the demand and total cost schedule for a monopolist hotel. What price should the monopolist charge if it is a single-price monopoly that maximizes its profit?
A) $171 B) $161 C) $151 D) $141
Which one of the following is to be a tool of monetary policy for altering the reserves of commercial banks?
a. Unemployment rate b. Tax rate c. Budget surplus or deficit d. Discount rate