We should expect the consumption function to shift downward if
A. real interest rates rise.
B. price levels fall.
C. consumers become more optimistic about future incomes.
D. consumers become more pessimistic about future incomes.
Answer: D
Economics
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If perfectly competitive firms are maximizing their profit and are making an economic profit, the market ________ in a short-run equilibrium and ________ in a long-run equilibrium
A) is; is B) is; is not C) is not; is D) is not; is not E) is; might be
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If the union leader has already sent strikers to the picket line before entering negotiations, the union has
a. Eliminated half of the strategies of the game b. Forced the firm to choose the best response in the union's best interest c. Made it in the firm's best interest to accommodate their requests d. All of the above
Economics