If there is an increase in demand for a good, what will most likely happen to the price and quantity of the good exchanged?
What will be an ideal response?
ncrease Increase
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In the long run, a firm will exit an industry if the market price is less than its
a. break-even price. b. shutdown price. c. marginal cost. d. fixed cost.
Given fixed exchange rates, which measure is most effective in reducing the unemployment rate?
a. Expansionary monetary policy. b. Expansionary fiscal policy and expansionary monetary policy are equally effective. c. Neither expansionary fiscal policy nor expansionary monetary policy is effective. d. Expansionary fiscal policy.
If the price of inputs falls and the government deficit rises:
a. Aggregate demand falls, and aggregate supply rises. b. Aggregate demand and aggregate supply rise. c. Neither aggregate demand nor aggregate supply change. d. None of the above.
If a firm is an oligopolist, which is NOT true?
A) It must pay attention to other firms' prices. B) It is one of a relatively small number of firms dominating its industry. C) It can sell all the units it wants at the going market price. D) It is engaged in a strategic game.