Decrease in government spending will ________ the expenditure curve:
A) decrease.
B) increase.
C) not change.
D) none of the above.
A
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In the short run, the perfectly competitive market supply curve
a. is indeterminate b. shows the total quantities of resources used by all firms in that market, given the market price of resources c. is the same as the individual supply curve of the dominant firm d. shows the sum of the quantities of output supplied by all firms in the market at each price e. is irrelevant to potential entrants
Refer to the table below. Relative to Free Cows, the quantity that maximizes the expected profit for Happy Cows is ________ sensitive to demand changes, which makes an accurate forecast ________ valuable to the managers of Happy Cows.
Happy Cows and Free Cows are two separate perfectly competitive dairy farms. The table above shows the respective firms' marginal cost at various production levels.
A) less; more
B) more; less
C) more; more
D) less; less