A decrease in the demand for incandescent light bulbs due to changes in consumer tastes, accompanied by a decrease in the supply of incandescent light bulbs as a result of government restrictions, will result in
A) a decrease in the equilibrium quantity of incandescent light bulbs; the equilibrium price may increase or decrease.
B) a decrease in the equilibrium quantity of incandescent light bulbs and no change in the equilibrium price.
C) a decrease in the equilibrium price of incandescent light bulbs and no change in the equilibrium quantity.
D) a decrease in the equilibrium price of incandescent light bulbs; the equilibrium quantity may increase or decrease.
A
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Which of the following statements is true?
A) Under monopoly, the seller sets the price of its good below marginal costs. B) Under perfect competition, sellers set the price of their goods below marginal costs. C) Under monopoly, prospective buyers may not be able to buy a good even if they have a willingness to pay above marginal costs. D) Under perfect competition, prospective buyers may not be able to buy a good even if they have a willingness to pay above marginal costs.
What is the "doom loop" responsible for the rapid development and severity of the 2009 euro crisis?
What will be an ideal response?
In the aggregate production function, the symbol "A " represents an index of how efficiently the economy transforms capital and labor into real GDP. "A" measures the influence
A) of any factor that determines real GDP. B) of the quantities of capital and labor that determine real GDP. C) of any factor that determines real GDP other than the quantities of capital and labor. D) of the quantities of capital and labor that determine real GDP, holding other factors constant.
Unlike national income, personal income
a. includes retained earnings, indirect business taxes, corporate income taxes and social insurance contributions, and excludes interest and transfer payments received by households from the government. b. excludes retained earnings, indirect business taxes corporate income taxes, social insurance contributions and interest and transfer payments received by households from the government. c. excludes retained earnings, indirect business taxes, corporate income taxes and social insurance contributions, and includes interest and transfer payments received by households from the government. d. includes retained earnings, indirect business taxes, corporate income taxes, social insurance contributions, and interest and transfer payments received by households from the government.