Refer to Figure 9.2. A movement from point c to point b could be caused by a simultaneous ________ and ________
A) decrease in government spending; decrease in the price of oil
B) increase in government spending; increase in the money supply
C) increase in taxes; decrease in government spending
D) decrease in taxes; increase in the price of oil
A
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Bill owns a lawn-care company in Windermere, Florida, whose cost curves are illustrated in the above figure. The market equilibrium price in this perfectly competitive market equals $32 per lawn mowed
At this price, how many lawns will Bill mow per week? A) more than 10 and less than 30 B) 30 C) 40 D) 50 E) 0
The domestic currency price of a representative domestic expenditure basket is
A) P, the domestic price level. B) E, the nominal exchange rate. C) P times E, the domestic price level times the domestic price level. D) P , the foreign price level. E) P times E, the foreign price level times the nominal exchange rate.