An increase in the expected inflation rate
A) leads to a movement downward along the short-run Phillips curve.
B) shifts the short-run Phillips curve downward.
C) shifts the long-run Phillips curve upward.
D) shifts the short-run Phillips curve upward.
E) leads to a movement upward along the short-run Phillips curve.
D
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When the price of oranges increases,
A) the supply of oranges increases. B) the quantity of oranges demanded increases. C) the quantity of oranges supplied increases. D) the supply of oranges decreases. E) none of the above
In the long run:
A) all factors of production are fixed. B) only some inputs of a firm can be changed. C) all firms earn positive economic profits. D) all factors of production can be changed.
Under FIFRA,
a. only benefits are considered in determining whether a pesticide can be sold b. registration of a pesticide is denied if it is linked to unreasonable adverse effects on the environment c. a pesticide registration is contingent upon only the risks associated with that substance d. benefits are the dominant factor in registration decisions
A single price monopolist has a demand curve: P = 500 - 50Q. It has the total cost curve: TC = 1000 + 100Q. If the firm is a profit maximizer or loss minimizer, what output and price should it plan for?
What will be an ideal response?