A decrease in supply means that
a. demand will increase by the same amount
b. the quantity supplied increases
c. the quantity supplied decreases
d. at every price level, the quantity supplied decreases
e. the supply curve shifts to the right
D
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Suppose that an accounting firm with 10 employees hires another accountant. By doing so, it goes from serving 30 customers each week to serving 32 customers each week. What is the marginal product of labor for the new accountant?
A. 32 B. 2 C. 62 D. 10
A public offer by one company to directly buy the stock of another company is known as
a. a tender offer b. a red herring c. an acquisition contract d. a right of first refusal e. a declaration of sale
Suppose a bottle of wine produced in France sells for 35 euros. If the exchange rate between euros and dollars is €1 = $1.30, how much will an American pay for the bottle of wine in America?
A. $130.00. B. $26.92. C. $45.50. D. $35.00.
One role government can play in addressing market failure is to:
A. enforce the rules of exchange. B. increase economic uncertainty. C. promote imperfect competition. D. facilitate decision making for private goods.