The a firm's short-run cost curves shifts when there is a change in
A) technology
B) the prices of factors of production
C) the quantity of outputs
D) Both answers A and B are correct.
D
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If you post your car on eBay with a "Buy It Now" price of $1,800, you are using money as
A. bank reserves. B. a medium of exchange. C. a unit of account. D. a store of value.
________ increases potential GDP
A) A decrease in the money wage rate B) A recessionary gap C) A recession D) An increase in the amount of human capital E) An increase in aggregate demand
Contractionary fiscal policy, other things being equal, will tend to: a. increase interest rates. b. increase investment
c. increase net exports. d. do both (b) and (c).
Which of the following is the best example of a market failure that would lead a firm to extract resources at a rate that is faster than the rate that would maximize its long-term stream of profits?
A. The market price of the resource rises. B. Weak property rights create fears that firms will not be allowed to extract in the future. C. An increase in market interest rates. D. New information suggests that the demand for the resource will be greater in the future.