Suppose that a per-unit subsidy is granted to each individual who consumes a product providing external benefits to society at large. Each individuals demand curve will shift ________, and the market demand curve for the product will shift ________
A) to the right; to the right
B) to the right; to the left
C) to the left; to the left
D) to the left; to the right
A
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Data on world reserves of minerals, gathered by Blackman and Baumol, show that between 1950 and 2000 . production of most minerals
a. greatly exceeded the reserves available in 1950. b. declined as depletion occurred. c. greatly reduced the reserves available in 2000. d. was limited to a fraction of the reserves available in 1950.
Increases in deficit spending may be accompanied by
A. An increase in U.S. exports. B. A shift of the Aggregate supply curve to the right. C. A shift of the Aggregate demand curve to the right. D. The U.S. Treasury buying more bonds.
The greatest expansion of the automobile industry occurred in the decade of the ______.
Fill in the blank(s) with the appropriate word(s).
The economy of Atlantis produces just ten goods and services; if it were a money economy there would be _____ prices; if it were a barter economy there would be _____ prices.
A. less than 10; 10 B. 10; 10 C. 10; less than 10 D. 10; more than 10