Economics Mcqs — Test 77
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Question 1
An increase in aggregate demand if aggregate supply is totally inelastic will ?
Question 2
The quantity demanded of Pepsi has decreased. The best explanation for this is that ?
Question 3
When the decrease in the price of one good causes the demand for another good to decrease, the goods are_________?
Question 4
If the demand for coffee decreases as income decreases, coffee is ?
Question 5
Which of the following is consistent with the law of supply ?
Question 6
If both marginal cost and marginal revenue increase, a firm ?
Question 7
The Setrite Corporation produce chairs. An economist working for the firm predicts that if people’s incomes rise next year, then the demand for our chairs will for our chairs will increase ceteris paribus The accuracy of the economist’s prediction depends on whether the chairs Setrite Produce ?
Question 8
A firm that breaks even after all economic costs are paid is earning ?
Question 9
Profits are maximized when ?
Question 10
If a firm wage costs increase this will cause __________ and __________?