A straight line or curve can shift when a factor not included on the vertical axis or horizontal axis changes
a. True
b. False
Indicate whether the statement is true or false
True
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Keynes used the term "animal spirits" to refer to the_____.
A. institutional factors that lead to economic downturns B. economic forces that lead markets to reach equilibrium C. psychological factors that lead to shifts supply and demand D. forces that lead firms to enter a market in response to profit opportunities
You have an hour between your economics and math classes. What is the opportunity cost of that time if you use it to complete your math homework instead of your economics homework?
A) the economics homework you could have completed B) the cost of your calculator and math textbook C) the math homework you chose to complete D) zero, because it doesn't cost any money to do your math homework
The market for automobiles in China has experienced tremendous growth primarily because of
A. the invention of new products. B. relaxed emissions standards in China. C. rising incomes in China. D. higher wages of American workers.
All of the following could be considered benefits for a business not accepting cash except
A) a reduction in the risk of robberies. B) faster processing of orders. C) the fees paid for the use of credit cards. D) all of the above.