Refer to the information provided in Figure 16.2 below to answer the question(s) that follow.
Figure 16.2Refer to Figure 16.2. To force this firm to produce the ________ level of output, the government should ________ of $10.00 per car.
A. market; issue a subsidy
B. market; impose a tax
C. efficient; issue a subsidy
D. efficient; impose a tax
Answer: D
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When Smartville's personal computer assembly plant closed, 30% of the community's labor force was laid off. Following this event Joe's New Car Dealership (NCD, Inc) complained because the __________ new cars __________
a. quantity supplied of; fell b. supply of; increased c. quantity demanded of; fell d. demand for; fell e. demand for; was unchanged
The Employment Act of 1946 states that
a. the Fed should use monetary policy only to control the rate of inflation. b. the government should promote full employment and production. c. the government should periodically increase the minimum wage and unemployment insurance benefits. d. All of the above are correct.
Refer to the information provided in Figure 3.10 below to answer the following question(s).
Figure 3.10Refer to Figure 3.10. A movement from Point C to Point B on supply curve S2 would be caused by a(n)
A. increase in the demand for pizza. B. increase in the price of hamburgers, assuming hamburgers are a substitute for pizza. C. decrease in the price of pizza dough. D. decrease in the price of pizza.
Pick the true statement below:
A) All scarce goods are normal goods. B) All scarce goods are inferior goods. C) A normal goods is a scarce good. D) An inferior good is a bad.