The existence of a shortage
A) means resources are being allocated efficiently.
B) is impossible in a market economy.
C) pushes the price u
C
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A worker is considered part time if the worker
A) is a full-time student without a job. B) is not employed but is actively looking for work. C) is not employed and is not actively looking for work. D) usually works less than 40 hours per week. E) usually works less than 35 hours per week.
Which of the following would not cause the supply curve for gasoline to shift?
A) A change in the wages paid to gas station attendants. B) A change in the number of gas stations. C) A change in the incomes of drivers. D) A change in the cost of refining oil.
Bank managers seem to have to walk a tightrope between managing risk and earning a profit. Explain.
What will be an ideal response?
The barrier to entry protecting cable companies is primarily
A. network effects. B. economies of scale. C. ownership of a scarce factor of production. D. patents.