Which of the following factors cause the IS curve to shift?
a. A change the money supply.
b. A change in the level of taxes
c. An autonomous investment change that shifts the investment function
d. Both b and c
e. All of the above
D
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Define a corporation
What will be an ideal response?
When a price floor is set above the equilibrium price, quantity supplied will exceed quantity demanded, resulting in
a. excess demand or shortages. b. excess supply or surpluses. c. equilibrium prices. d. price controls.
This table shows the total costs for various levels of output for a firm operating in a perfectly competitive market.PriceQuantityTC$500$10.00$501$20.00$502$27.50$503$77.50$504$147.50$505$250.00According to the table shown, the firm's profit is:
A. maximized at 5 units of output. B. not maximized at any level of output given. C. maximized at 4 units of output. D. maximized at 3 units of output.
Liberalism is founded on a premise that behind a "veil of ignorance,"
a. justice cannot be agreed upon. b. everyone's income should be equal. c. everyone would agree to "just" rules to reallocate income. d. society should maximize the sum of individual utilities.