The additional goods and services produced by women in the United States as their labor force participation increases represent:
A. no change in economic activity,
B. an increase in economic activity.
C. a decrease in economic activity.
D. a switch from market to non-market production.
Answer: B
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Refer to the above table. The marginal utility of the 7th movie for Michael is
A. 35 units of utility. B. 435 units of utility. C. 20 units of utility. D. 15 units of utility.
The secondary effects of an economic action refer to the
What will be an ideal response?
If a price is below equilibrium,
A. A surplus will cause the price to fall and the quantity supplied to decrease. B. A shortage will cause the price to rise and the quantity supplied to increase. C. A shortage will cause the price to fall and the quantity supplied to decrease. D. A surplus will cause the price to fall and the quantity supplied to increase.
If short-run economic profits are greater than zero for firms in a monopolistically competitive market, in the long run we expect:
A. entry barriers to prevent competing firms from entering this market. B. the demand curve for firms in the market to shift to the right. C. the average cost of production to decrease. D. the average cost of production to increase.