The equilibrium quantity is about
A. 14.5.
B. 15.0.
C. 15.5.
D. 16.0.
C. 15.5.
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In the ISLM framework, an expansionary monetary policy causes aggregate output to ________ and the interest rate to ________, everything else held constant
A) increase; increase B) increase; decrease C) decrease; decrease D) decrease; increase
Mechanisms that manufacturers can use to deal with misaligned retailer incentives include
a. setting a minimum retail price b. providing an exclusive contract to a single retailed in a market c. compensating retailers' sales staff for demonstrating, as well as selling, the product d. All of the above
The price elasticity of supply of a good compares:
a. the percentage change in the price of the good with the percentage change in its quantity supplied. b. the percentage change in the quantity supplied of the good with the percentage change in its price. c. the percentage change in the quantity demanded of the good with the percentage change in its supply. d. the percentage change in the quantity supplied of the good with the percentage change in its demand.
Suppose that Angelo and Sonia each win $500 in a charity raffle. Angelo spends his winnings on a new ipad. Sonia saves her winnings. Which of the following is correct?
a. Both Angelo's and Sonia's behavior suggest that they base their purchasing decisions on transitory income. b. Angelo's behavior suggests that he bases his purchasing decisions on transitory income rather than permanent income. Sonia's behavior suggest that she bases her purchasing decisions on permanent income rather than transitory income. c. Angelo's behavior suggests that he bases his purchasing decisions on permanent income rather than transitory income. Sonia's behavior suggests that she bases her purchasing decisions on transitory income rather than permanent income. d. Both Angelo's and Sonia's behavior suggest that they base their purchasing decisions on permanent income.