The aggregate demand curve slopes downward for the same reason that a microeconomic demand curve slopes downward
a. True
b. False
B
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If a firm shuts down, its
A. fixed costs remain unchanged. B. revenue will fall to zero. C. short-run variable costs will fall to zero. D. All of the responses are correct.
In a competitive labor market, if the demand for labor increases, labor demand will shift to the:
A. right and wages will increase. B. left and wages will increase. C. right and wages will decrease. D. left and wages will decrease.
Figure 17-4
In , the equilibrium price of Dominican pesos is Pe. If the Dominican Republic government fixes the price of foreign currency in terms of domestic currency at Pf (below equilibrium), what does the quantity Qd through Qs represent?
a.
the quantity of Dominican exports
b.
a shortage of foreign exchange
c.
the quantity of Dominican imports
d.
a surplus of foreign exchange
If the graph shown represents Taylor's budget constraint, which of the following consumption bundles could Taylor choose?
A. Taylor cannot choose to consume any of these bundles B. One pair of earrings and six hairbands C. Four pairs of earrings and eight hairbands D. Two pairs of earrings and six hairbands