Using Figure 1 above, if the aggregate demand curve shifts from AD2 to AD3 the result in the short run would be:
A. P1 and Y2.
B. P2 and Y3.
C. P3 and Y1.
D. P2 and Y2.
Answer: B
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Since the 1980s, the Congressional budget has allocated substantial funds to antitrust investigation and enforcement, which is why the Antitrust Division of the Department of Justice is one of the most vigorous agencies of government today
Indicate whether the statement is true or false
Economist Douglass North's definition of institutions:
A. includes laws enforced by the government as well as cultural norms. B. is the humanly devised constraints that shape human interactions. C. is the rules of the game in a society. D. All of these statements are true.
In a developed country, in which of the following examples would labor-intensive methods work better than capital-intensive methods?
a. Four tons of dirt must be moved as quickly as possible. b. A poem must be perfectly written to honor a retiring professor. c. One thousand transmission cases must be cast from aluminum. d. A vast reserve of oil must be retrieved from deep underground.
Refer to Figure 17-10. Consumer surplus with the tariff is
a. A.
b. A + B.
c. A + C + G.
d. A + B + C + D +E + F.