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When price rises, quantity supplied increases, and vice versa. This statement is known in economics as: the Law of Increasing Opportunity Costs the Law of Supply the Law of Demand the Law of Increasing Numbers Murphy's Law Question 14 If the value of the U.S. Dollar falls relative to the value of the Japanese Yen: both U.S. exports to and imports from Japan will increase. both U.S. exports to and imports from Japan will decrease. U.S. exports to Japan will increase and imports from Japan will decrease. U.S. exports to Japan will decrease and imports from Japan will increase. Question 15 The statistic that measures the TOTAL value of all goods and services produced AND is adjusted for inflation is known as: nominal GDP real GDP national income personal income disposable income Question 16 The ATC curve is U-shaped. This statement is: True for the Short Run ONLY True for the Long Run ONLY True for BOTH the Short and the Long Run True for NEITHER the Short nor the Long Run Question 17 If an increase in demand occurs with no change in market supply, in a competitive market: equilibrium price and quantity will rise equilibrium price and quantity will fall equilibrium price will rise, equilibrium quantity will fall equilibrium price will fall, equilibrium quantity will rise neither price nor quantity will change Question 18 If a price FLOOR is implemented ABOVE the market equilibrium price, the result will be: a surplus a shortage an increase in quantity demanded a change in demand a change in supply Which of the following is NOT a reason for Market Failure? Externalities Public Goods Lack of Information in the market Too much competition all the above are reasons for market failure
If a price in a competitive market is "too high to clear the market," what does this normally mean. Assume upward-sloping supply curves.
Explain how will you consider the structure of the fresh salmon industry to calculate the forecast. Will you advise the firm to enter the industry.
Sketch the aggregate demand-aggregate supply model of the macroeconomic for the short run, assuming that the economy is in the expansionary phase of the business cycle.
The game ends when the stack runs out or one of the players takes two notes (whichever comes first). Both players keep illustrate what they have taken to that point.
The economy is operating beyond the full employment output level, thus producing rapid rise in prices of goods and services. The Fed is concerned about high inflation rates. The curb inflation, the Fed shifts to a more restrictive monetary policy by ..
Explain how would the competitive balance in the American and National Leagues change if baseball owners forced the Yankees to move to Albuquerque, New Mexico.
Consider competitive markets, monopolies, and oligopolies. Illustrate what role does each of these play in an economy.
A New York Times editorialist recently advocated a cut in the payroll tax.
Illustrate what price should firm charge to realize targeted profit. Illustrate what would be its (cost-based) mark-up ratio.
Illustrate what were you thinking about the economy in 2005 and did you ever foresee a crisis of this magnitude.
What should the government limit the number of auto and parts makers, the competition for would be limited. Please explain more on this subject.
In what ways and to what extent did coffee production contributed to the growth and development of the Brazilian economy before 1930.
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