If one person's use of a good diminishes another person's enjoyment of it, the good is
a. rival in consumption.
b. excludable.
c. normal.
d. exhaustible.
a
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If employers are provided a subsidy of $1 per hour for hiring workers, ________
A) the equilibrium real wage will decrease B) labor demand will decrease C) the equilibrium employment will increase D) labor supply will increase
A production possibilities curve shows the relationship between:
A) the price of a good and its quantity supplied. B) the maximum production of one good for a given level of production of another good. C) the different combinations of two inputs used to produce a given quantity of output. D) the quantity of output produced and the amount of inputs required for the production of the output.
Which of the following will cause the LM curve to shift to the right?
A) An increase in investment B) An increase in money demand C) A decrease in velocity D) An increase in the money supply
An increase in income _____
a. makes the budget line flatter b. makes the budget line steeper c. makes the consumer worse off d. makes the consumer achieve a higher level of utility e. makes the consumer more selfish