A technological breakthrough lowers the cost of manufacturing microwave ovens. As a result, the market changes to a new equilibrium because of
a. an upward movement along the demand curve for microwave ovens.
b. a rightward shift in the demand curve for microwave ovens.
c. a rightward shift in the supply curve for microwave ovens.
d. a shortage of microwave ovens.
C
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The opportunity cost of holding money is
A) zero. B) the inflation rate. C) the real interest rate. D) the nominal interest rate.
One major difference between a debit card and a credit card is:
A. the debit card has lower minimum monthly payments. B. debit cards have no late fees. C. only the debit card helps you to build a credit history. D. you do not need to actually have the funds in your account when you use a debit card.
The debt-to-GDP ratio is higher,
A) the lower the real interest rate. B) the lower is the ratio of the primary deficit to GDP. C) the higher is the growth rate of output. D) all of the above E) none of the above
The upward-sloping portion of the perfectly competitive firm's average variable cost curve is the firm's short run supply curve.
Answer the following statement true (T) or false (F)