A $500 increase in investment will shift the aggregate expenditures curve up by:
a. exactly $500 and will increase the equilibrium level of real GDP by exactly $500.
b. exactly $500 and will increase the equilibrium level of real GDP by less than $500.
c. exactly $500 and will increase the equilibrium level of real GDP by more than $500.
d. more than $500 and will increase the equilibrium level of real GDP by more than $500.
e. less than $500 and will increase the equilibrium level of real GDP by less than $500.
c
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Compared to a perfectly competitive industry, a single-price monopoly produces
A) more output. B) less output. C) the same output. D) some amount that might be more, less, or the same depending on whether the monopoly's marginal revenue curve lies above, below, or on its demand curve. E) some amount that might be more, less, or the same depending on whether the monopoly's marginal cost curve lies above, below, or on its marginal revenue curve.
Which of the following is an implicit cost to Mondo Manufacturing, Inc? a. Payments of wages to its office workers
b. Property taxes. c. Depreciation charges on company owned automobiles and trucks. d. Rent paid for the use of equipment.