Which of the following statements is correct?
I. When economists derive the aggregate demand curve, they are looking at the effect of the price level on one commodity only.
II.
Any non-price-level change that increases total planned real spending on domestic goods shifts the AD curve to the right.
A) I only B) II only C) Both I and II D) Neither I nor II
B
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Which of the following statements is most likely true?
a. In recent decades, the export/GDP ratio has generally fallen, both worldwide and for the U.S. economy. b. In recent decades, the export/GDP ratio has generally risen worldwide, but not for the U.S. economy. c. In recent decades, the export/GDP ratio has generally risen, both worldwide and for the U.S. economy. d. In recent decades, the export/GDP ratio has generally fallen worldwide, but not for the U.S. economy.
If a monopolist increases output from 14 to 15 by lowering its price from $32 to $31, marginal revenue is:
A. $465. B. $448. C. $17. D. $1.