Other things the same, an increase in the amount of capital firms wish to purchase would initially shift
a. aggregate demand right.
b. aggregate demand left.
c. aggregate supply right.
d. aggregate supply left.
a
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Refer to the figure above. What is the absolute value of the arc elasticity of demand when the price increases from $6 to $8?
A) 1.25 B) 2.75 C) 3.45 D) 4.00
The public interest view of Fed motivation holds that the Fed acts in the interest of
A) the general public. B) banks. C) Congress. D) itself.
Which of the following move the handling of a common property resource closest to efficiency?
A) ensuring that the sellers of the resource are perfectly competitive B) ensuring that the seller of the resource is a monopolist C) banning the sale of the resource D) banning the use of the resource E) assigning a usage fee for access to the resource
Suppose an acre of land yields 100 bushels of corn and that one bushel of corn provides enough seed for one-quarter of an acre of land. The opportunity cost of consuming another 100 bushels of corn today is
A) 100 bushels of corn next year. B) 25 bushels of corn next year. C) 10 bushels of corn next year. D) 2.5 bushels of corn next year.