Lower nominal interest rates ________ the amount of money demanded and a lower price level ________ the amount of money demanded.
A. increase; does not change
B. decrease; decreases
C. increase; increases
D. increase; decreases
Answer: D
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Which of the following acts prohibited predatory pricing?
A. Robinson-Patman Act B. Tunney Act C. Clayton Act D. Sherman Act
In the Humana Hospital case study, the hospital, before reorganization, devoted only ________ of each health care dollar spent on direct patient care.
A. $0.5 B. $0.6 C. $0.16 D. $0.35
After a tax is placed on a good or service, which of the following does NOT occur?
A. The total volume of sales of the good or service increases. B. Buyers pay more for the good or service. C. Sellers receive less when they produce and sell the good or service. D. Government revenues decrease.
Whenever the economy is producing the maximum amount of goods given the level of technology and the amount of resources
A) the number of resources used should be decreased since society must protect its scarce resources. B) the concept of opportunity costs does not exist. C) more goods will be available than customers want to buy. D) the economy is producing efficiently.