As more firms are attracted to an industry, the supply curve can be expected to shift to the right
a. True
b. False
Indicate whether the statement is true or false
True
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Trade restrictions designed to benefit the import-competing industries will benefit the entire country.
Answer the following statement true (T) or false (F)
If the number employed grows faster than the population, then the
A. Living standard will fall. B. Growth rate of GDP will not be affected. C. Living standard will rise. D. Growth rate of GDP will fall.
Positive statements contain mostly
A. opinions and conditions. B. logical arguments mixed with statements of opinion. C. bias. D. facts and predictions.
Which of the following events would likely cause the largest reduction in current consumption?
A) a permanent reduction in annual salary of $2000 B) a one-time tax increase of $4000 C) a one-time reduction in income (e.g. a bonus) of $4000 D) both B and C