Exclusive rights of ownership that allow the use, transfer, and exchange of property are called
A) common property rights.
B) nonexclusive property rights.
C) private property rights.
D) public property rights.
Answer: C
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If a firm decreases output when MR > MC, then:
a. profit will equal zero. b. profit will increase. c. profit will decrease. d. profit will remain the same. e. the firm is minimizing losses.
An economy in which output has decreased and prices have increased would suggest that there has been a:
A. negative demand side shock. B. negative supply side shock. C. positive demand side shock. D. positive supply side shock.
Refer to the diagrams. The firm:
A. is a monopsonist in the hiring of labor.
B. must be selling its product in an imperfectly competitive market.
C. is a "wage taker"
D. must pay a higher marginal resource cost for each successive worker.
Refer to the diagrams. The numbers in parentheses after the AD 1 , AD 2 , and AD 3 labels indicate the levels of investment spending associated with each curve. All figures are in billions. Which of the following would shift the money supply curve from MS 1 to MS 3 ?
A. An increase in the discount rate.
B. Purchases of U.S. securities by the Fed in the open market.
C. Sales of U.S. securities by the Fed in the open market.
D. An increase in the reserve ratio.