Colorado experiences a record snowfall during the winter season. What impact will this have on the market for snowmobiles?
a. The supply of snowmobiles will increase and the price of snowmobiles will fall.
b. The demand curve for snowmobiles will decrease and the price of snowmobiles will fall.
c. The supply of snowmobiles will increase and the price of snowmobiles will increase.
d. The demand curve for snowmobiles will increase and the price of snowmobiles will rise.
d. The demand curve for snowmobiles will increase and the price of snowmobiles will rise.
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Whenever one variable increases, another variable decreases. The two variables are
A) definitely related through a third variable. B) negatively related. C) positively related. D) unrelated to each other.
The distribution of profits among partners is determined by the
a. government's regulations b. partnership agreement c. financial contribution each makes to the business d. limits of their liability e. quantity of stock each owns
If long-run average total cost decreases as the quantity of output increases, the firm is experiencing
a. economies of scale. b. diseconomies of scale. c. coordination problems arising from the large size of the firm. d. fixed costs greatly exceeding variable costs.
Refer to the information provided in Figure 32.2 below to answer the question(s) that follow.
Figure 32.2Refer to Figure 32.2. According to ________ economists, under rational expectations an expected increase in government spending would not change AD or AS.
A. Keynesian B. the new classical C. monetarist D. none of the above