If the price of chocolate chip cookies rises, then
A) the demand curve for chocolate chip cookies shifts rightward.
B) the demand curve for chocolate chip cookies shifts leftward.
C) there is a movement downward along the demand curve for chocolate chip cookies.
D) there is a movement upward along the demand curve for chocolate chip cookies.
D
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An unplanned economy operating under laissez-faire
A. allocates resources by market supply and demand. B. cannot respond to basic questions about production and distribution. C. shows breakdowns with frequent surpluses and shortages. D. allocates goods and services under government subsidy.
Josh runs a landscaping business in Vermont and decides to hire two people in India to maintain his bookkeeping for him electronically. Josh can pay them much less than he would pay a bookkeeper in the U.S., and the workers enjoy a higher quality of life in India thanks to their jobs with Josh's company. Josh's actions are an example of:
A. exporting. B. foreign direct investment. C. importing. D. foreign portfolio investment.
Which of the following is true of The Stigma of the Newcomer?
A. It is less common today than it was several generations ago. B. It is more relevant today because neighbors do not know each other well. C. It would be more likely to occur in New York City than in a rural community in Iowa. D. It relates to the introduction of new technology so none of the answers are correct.
Select the normative statement that completes the following sentence: If the minimum wage is raised:
A. cost per unit of output will rise. B. workers will gain their rightful share of total income. C. the rate of inflation will increase. D. profits will fall.