The supply curve shows the relationship between:
A. Price and quantity supplied
B. Production costs and the amount demanded
C. Total business revenues and quantity supplied
D. Physical inputs of resources and the resulting units of output
Ans: A. Price and quantity supplied
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Discuss the major programs to combat poverty and evaluate them on the basis of work incentives
Refer to the information provided in Table 33.1 below to answer the question(s) that follow. Table 33.1
Refer to Table 33.1. In Mexico, the opportunity cost of 1 bushel of bananas is
A. 1/2 bushel of oranges. B. 1 bushel of oranges. C. 2 bushels of oranges. D. 5 bushels of oranges.
Exhibit 11-6 Aggregate demand and supply model
In Exhibit 11-6, if the aggregate demand curve is at AD3, the government should:
A. raise taxes to move to AD1. B. cut taxes to move to AD2. C. not change its behavior. D. cut spending to move to AD2.
The World Trade Organization (WTO) promotes foreign trade and investment, or globalization. In recent years opposition to globalization has led to violent protests at meetings of the WTO. One reason for these anti-globalization protests is
A) foreign trade and investment are examples of zero-sum games. B) protesters believe that globalization will result in a return to communism in developing countries. C) protesters believe that free trade destroys the distinctive cultures of many countries. D) protesters object to the loss of intellectual property (such as software programs and movies) that results from foreign trade and investment.