Judy's Gymnastics is one of a number of firms in an area offering children's gymnastics programs. Judy's advertises that her program is different from all the others because of the classical music she plays during classes. Judy's advertising campaign is
a. wasteful since she's in a perfectly competitive market
b. unnecessary since she already has a monopoly
c. aimed at increasing market share
d. an attempt to make the demand for her classes more elastic
e. an example of misleading advertising
C
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All of the following are benefits of the Fed having only the single goal of price stability EXCEPT
A) the Fed would be more credible. B) the fed would not be distracted and led astray by other concerns. C) there would be greater reliance on fiscal policy for economic stabilization. D) the Fed would be free from political pressures.
A university raises annual tuition by 10 percent. No other events have occurred, and the university's revenues have increased. It must be TRUE that
A) the associated change in quantity demanded was smaller than 10 percent. B) the associated change in quantity demanded was equal to 10 percent. C) the associated change in quantity demanded was greater than 10 percent. D) there was no associated change in quantity demanded.
The dollar value of stocks and bonds traded in a given year:
a. is included in the calculation of GDP b. have no influence on GDP. c. is included in the calculation of private investment. d. is not included in GDP, but the broker commissions involved are included in GDP.
The effect of higher wages on the individual supply of labor is ________ and the effect of higher wages on the market supply of labor is ________.
A. ambiguous; to increase the quantity supplied B. to increase the quantity supplied; ambiguous C. ambiguous; to decrease the quantity supplied D. to decrease the quantity supplied; ambiguous