When box office receipts are not corrected for inflation, the most popular movie of all time is
a. Star Wars: The Force Awakens.
b. Avatar.
c. Gone With the Wind.
d. The Dark Knight.
a
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If Y>C+I+G but Md= Ms, then
a. interest rates must rise and output must fall. b. both interest rates and output must fall. c. interest rates must fall and output must rise. d. both interest rates and output must rise. e. none of the above.
All things equal, the price elasticity of supply
a. will be smaller in the short run than in the long run. b. will be smaller in the long run than in the short run. c. is the same for the short run and the long run. d. approaches zero in the long run.
Suppose that three consumers are in the market for good X. Consumer 1's (inverse) demand is PX = 40 ? 5QX; Consumer 2's (inverse) demand is PX = 10 ? QX; and Consumer 3's (inverse) demand is PX = 30 ? 2QX. When PX = $5, the market will demand:
A. 15.5 units. B. 24.5 units. C. ?12 units. D. None of the statements is correct.
Suppose a consumer is currently buying 5 goods so that utility is maximized. The price of one of the goods falls while the prices of the other 4 goods do not change. The consumer should
A) buy less of all goods being consumed to get to the optimal position. B) buy more of all of the goods but the one that experiences the decline in price, to get to the optimal position. C) buy more of all goods being consumed to get to the optimal position. D) buy more of the good that has experienced the fall in price to get to the optimal position.