Which of the following is incorrect?
A. As the American average price level rises, American goods become relatively more expensive so that our exports fall and our imports rise.
B. As the average price level falls, the interest rate declines, and interest-rate sensitive spending increases.
C. When the average price level increases, real balances increase, businesses and households find themselves wealthier and therefore increase their spending.
D. An increase in aggregate supply tends to increase real domestic output and reduce the average price level.
C. When the average price level increases, real balances increase, businesses and households find themselves wealthier and therefore increase their spending.
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Which of the following variables do you need to know to calculate marginal cost?
i. change in total cost ii. marginal product of labor iii. change in quantity of labor used iv. change in output A) i and ii B) i and iv C) ii and iv D) i, iii, and iv E) Only ii
In Barylia, Greenaqua Corp . is the sole controller of a resource required for the production of bottled drinking water. Therefore, Greenaqua Corp . enjoys:
A) legal market power. B) natural market power. C) regulated market power. D) restricted market power.