"If A occurs then B will follow" is a
A) positive statement.
B) normative statement.
C) non-testable statement.
D) statement lacking in logic.
A
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A minimum wage might increase employment by a monopsony if it makes the supply of labor curve to that firm
A) steeper, that is, makes supply more elastic. B) steeper, that is, makes supply less elastic. C) flatter, that is, makes supply more elastic. D) flatter, that is, makes supply less elastic.
Which of the following is not another way of describing the marginal propensity to consume?
a. MPC b. The slope of the consumption function c. The change in real consumption spending divided by the change in real disposable income d. The amount by which real consumption spending rises when real disposable income increases by one dollar e. Autonomous consumption spending
In a pure monopoly, price of a product is determined by which of the following?
a. Consumer Price Index (CPI) b. Regulatory body c. Referendum to the voters d. Alternative product pricing strategy
Refer to the information provided in Figure 27.1 below to answer the question(s) that follow.
Figure 27.1Refer to Figure 27.1. An aggregate demand shift from AD2 to AD1 can be caused by
A. a decrease in taxes. B. a decrease in money supply. C. a decrease in the price level. D. an increase in the price level.