Refer to the graph above. Which of the following factors will shift AS 1 to AS 2?
An increase in input prices
A decrease in business taxes
An increase in real interest rates
A decrease in business subsidies
A decrease in business taxes
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One way to characterize technological change is "creative destruction," which basically means that today's innovation will productively destroy yesterday's capital investment
This destruction creates new job opportunities, boosts production and offers a greater variety or more goods and services than in the past. Indicate whether the statement is true or false
A firm that places its assets in the custody of a board of trustees is called a:
a. trust. b. combination. c. cartel. d. all of these.
The income elasticity of demand is equal to the percentage change in income divided by the percentage change in quantity demanded
a. True b. False Indicate whether the statement is true or false
Bob is looking for work after school, but everywhere he fills out an application, the managers say they always have a lot more applications than open positions. Tom has a law degree. Several firms have made him offers, but he thinks he might be able to find a firm where his talents could be put to better use
a. Bob and Tom are both frictionally unemployed. b. Bob and Tom are both structurally unemployed. c. Bob is frictionally unemployed, and Tom is structurally unemployed. d. Bob is structurally unemployed, and Tom is frictionally unemployed.