As demand for MP3 music downloads increases, other things being equal, we can expect
A) a decrease in both the relative price and quantity of MP3 music downloads.
B) a decrease in the supply of MP3 music downloads.
C) more MP3 music downloads to be produced.
D) an excess number of MP3 music downloads in the market.
C
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_____ goods are rivalrous in consumption and nonexcludable
Fill in the blank(s) with the appropriate word(s).
The U.S. income tax system is completely indexed for inflation
a. True b. False Indicate whether the statement is true or false
As the marginal propensity to consume (MPC) decreases, the spending multiplier:
A. increases. B. decreases. C. remains constant. D. becomes undefinable.
If a firm can adjust its employment of all inputs, then it is
a. experiencing economies of scale. b. in the long run. c. off its expansion path. d. limited only by the capacity of its fixed capital.