Which of the following statements is TRUE?
A) The long-run aggregate supply curve is vertical.
B) The short-run aggregate supply curve is vertical.
C) The long-run aggregate demand curve is upward sloping.
D) The long-run aggregate supply curve is upward sloping.
A
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Taxing savings will cause people to save more.
A. True B. False C. Uncertain
If the demand curve is horizontal a rightward shift of the supply curve will lead to
A) an increase in quantity supplied. B) an increase in price. C) a decrease in quantity demanded. D) a decrease in price.
A new major league baseball expansion team is moving to your town. It will inject consumer spending worth $40 million into your local economy initially. The Chamber of Commerce predicts that this will generate a total of $500 million in additional spending for your town. The team owners think that this is an underestimate. What do you need to know to figure out who is right? Explain
If B(X) represents the total benefit of activity X, then which of the following expressions best represents the marginal benefit of activity X?
A. B(X) - B(X - ?X) B. (B(X) - B(X - ?X))/?X C. (B(X) - B(X - ?X))/X D. B(X - ?X))/?X