U.S. productivity dramatically slowed down in 1973 until the early _________ (decade).
Fill in the blank(s) with the appropriate word(s).
1990s
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Which of the following will shift the aggregate demand curve to the left?
A. The government increases spending on education. B. Income taxes are lowered. C. Foreign economies fall into recession, reducing their demand for domestic exports. D. Consumers become optimistic about the future.
Under what circumstances might it be more effective for people experiencing a negative externality to file a class-action lawsuit than attempt to resolve the problem through bargaining?
What will be an ideal response?
The basic reason that supply curves slope upward is that
a. demand curves slope downward b. production is characterized by increasing costs c. profits decline as product prices rise d. greater output can only result from improved technology e. price and quantity supplied are inversely related
The consequence for society of the free-rider problem is:
A. valuable goods and services are undersupplied. B. goods and services not valued by the society will be oversupplied. C. valuable goods and services are underdemanded. D. valuable goods and services are oversupplied.