Refer to the above figure. In the absence of a subsidy,
A. Qd would be demanded and QM would be supplied.
B. the quantity Qo and price Po would prevail in the market.
C. the price Pd would be charged and quantity QM demanded.
D. None of these is correct.
Answer: B
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The creation of a separate legal being implies the business
a. has an existence independent of its owners b. is partially owned by the government c. must abide by federal law d. will be regulated by the government e. does not have to abide by state law
A PPF is a straight line as a result of
A) constant opportunity costs. B) increasing opportunity costs. C) decreasing opportunity costs. D) scarcity. E) choice.
According to the Economic Freedom of the World measure, between 2000 and 2009 what happened to the economic freedom of the United States?
What will be an ideal response?
Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y2. C. P3 and Y1. D. P2 and Y3.