We observe that the price of food rises and the quantity purchased also rises. This means the
A. supply curve shifted to the left.
B. demand curve shifted to the right.
C. demand curve shifted to the left.
D. supply curve shifted to the right.
Answer: B
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Provide an economic explanation for why government subsidization of child immunizations may lead to a more efficient outcome
What will be an ideal response?
If the allocation of resources is efficient, then a market economy will maximize the difference between total utility and total cost.
Answer the following statement true (T) or false (F)
If autonomous consumption is $1,000 . the MPC is 0.75, net taxes are $500, investment spending is $800, and government purchases equals $500, and NX = $0, what is equilibrium GDP?
a. $1,800 b. $1,925 c. $2,566.7 d. $7,200 e. $7,700
A reduction in demand for retail salesperson post Christmas and New Year can be categorized as:
a. frictional unemployment. b. structural unemployment. c. seasonal unemployment. d. cyclical unemployment.