The horizontal axis of a graph that shows a market demand curve indicates the
A. quantities that consumers are willing and able to buy at various prices.
B. different prices at which a product can be purchased.
C. number of consumers who are in the market for a product.
D. various quantities of a product at which the market will be cleared.
Answer: A
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If the monopoly illustrated in the figure above could engage in perfect price discrimination, then each buyer would pay
A) $2.00. B) $3.00. C) $3.50. D) a different price.
Spending on the war in Afghanistan is essentially categorized as government purchases. How do increases in spending on the war in Afghanistan affect the aggregate demand curve?
A) They will shift the aggregate demand curve to the right. B) They will move the economy up along a stationary aggregate demand curve. C) They will move the economy down along a stationary aggregate demand curve. D) They will shift the aggregate demand curve to the left.