Refer to Scenario 18.1. Which of the following is TRUE?
A) The factory will never agree to B, because that would leave them with much less profit than the fishermen.
B) C will never occur because that would leave the fishermen with much less profit than the factory.
C) If the factory refused to install a filter, the fishermen would refuse to install a treatment plant.
D) The factory must install a filter, because they contaminate the water.
E) The profits above indicate profit before any agreement is made, and profit varies enough to make a mutually acceptable agreement possible.
E
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From an initial long-run equilibrium, if aggregate demand grows faster than long-run and short-run aggregate supply, then Congress and the president would most likely
A) decrease tax rates. B) decrease government spending. C) decrease the required reserve ratio. D) decrease oil prices.
If a yet-to-be released video game receives a positive review in a popular gaming magazine,
A) the demand curve is expected to shift to the right. B) the demand curve is expected to shift to the left. C) the demand curve is not expected to change. D) for those who read the review, demand shifts to the left. For those who don't read the review, demand shifts to the right.