An example of a flow variable is
a. the number of cars in the United States today
b. the current value of your wealth
c. the population of Mexico
d. income
e. the number of sweaters a clothing store has on its shelves
D
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If there is a rise in the price level, there is a(n) ________ movement along the AS curve because there is ________ in the quantity of real GDP supplied
A) upward; a decrease B) downward; an increase C) upward; no change D) upward; an increase E) downward; a decrease
Jim' burger produces 500 burgers per week. Each burger is priced at $3 . A business ordered 750 burgers for an upcoming event. Jim decided to offer a discount by reducing the price of the burgers to $2.50 for the party. What is the marginal revenue of selling the 50th burger for the party?
a. $3 b. $2.50 c. $0.50 d. It cannot be determined with the information given