If total fixed cost increases, then the average total cost curve ________ and the marginal cost curve ________
A) does not shift; shifts upward
B) shifts upward; shifts upward
C) does not shift; does not shift
D) shifts upward; does not shift
D
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Lack of prudential regulation of capital markets in East Asia often led to
a. borrowing short term and lending long term b. borrowing and lending short term c. borrowing and lending long term d. borrowing long term and lending long term e. very little borrowing
A firm that is the sole seller of a product without close substitutes is
a. perfectly competitive. b. monopolistically competitive. c. an oligopolist. d. a monopolist.
If supply increases and demand remains unchanged, equilibrium quantity will _______ and equilibrium price will ______________.
A. rise; rise B. fall; fall C. fall; rise D. rise; fall
Demographers refer to this as the "demographic transition": The reduction in death rates brought about by rising standards of living "causes a temporary population explosion because parents - initially unaware that such a revolutionary change in death rates has taken place - for a while keep having six or more children...to ensure that at least two will survive to adulthood." For which major industrialized country could this statement be used to explain its current population trend?
A. United States B. Japan C. India D. China