Joe has broken the mirror of my car. I have legal recourse to sue for damages because of
A) social costs.
B) transactions costs.
C) common property rights.
D) private property rights.
Answer: D
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The steeper the short-run aggregate supply curve, _____
a. the steeper the aggregate demand curve b. the larger the value of the spending multiplier c. the larger the budget surplus d. the larger the impact of a shift in aggregate demand on the equilibrium price level e. the larger the impact of a shift in aggregate demand on the equilibrium output level
Suppose Hannah's Cookies sells cookies in a perfectly competitive market. It sells 200 cookies per week at a price of $2 per cookie. If it decides to increase the price to $2.50 per cookie, then its sales _____
a. will decrease by 150 cookies per week b. will decrease by more than 200 cookies per week c. will drop down to zero d. will decrease by 100 cookies per week