Use the above figure. The total revenue earned by the monopolistically competitive firm is
A) $300.
B) $285.
C) $180.
D) $255.
A
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Assume (other things constant) that the Fed increases the money supply. The mechanism through which aggregate demand increases is, according to interest-rate-based transmission mechanism, summarized as follows:
A) the money supply increases ? there is a drop in money balances held ? interest rates increase ? planned investment spending decreases ? aggregate demand increases. B) increase in money supply ? increase in money balances held ? decrease in interest rates ? decrease in planned investment spending ? increase in aggregate demand. C) increase in money supply ? decrease in money balances held ? decrease in interest rates ? increase in planned investment spending ? increase in aggregate demand. D) increase in money supply ? decrease in interest rates ? increase in planned investment spending ? increase in aggregate demand.
Which of the following statements best describes countries with controlled economies in the 1970s?
a. Countries with controlled economies in the 1970s, historically had very low rates of measured inflation—because prices were forbidden to rise by law, except for the cases where the government deemed a price increase to be due to quality improvements. b. Countries with controlled economies in the 1970s, historically had very high rates of measured deflation—because prices were forbidden to rise by law, except for the cases where the government deemed a price increase to be due to quality improvements. c. Countries with controlled economies in the 1970s, historically had very low rates of measured deflation—because prices were forbidden to rise by law, except for the cases where the government deemed a price increase to be due to quality improvements. d. Countries with controlled economies in the 1970s, historically had no inflation—because prices were forbidden to rise by law, except for the cases where the government deemed a price increase to be due to quality improvements.
The long-run aggregate supply curve is:
What will be an ideal response?
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point D to Point B, the opportunity cost of hybrid cars, measured in terms of motorcycles,
A. initially increases, then decreases. B. increases. C. remains constant. D. decreases.