Relative to productivity growth in the United States, which of the following countries experienced the largest decline in productivity growth from 1990 to 2014?
A) Canada B) the United Kingdom
C) Japan D) Germany
C
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The popularity of digital cameras has enticed large discount stores like Wal-Mart and Costco to offer digital photo printing services. How does this affect the digital photo printing market?
A) The demand curve for digital photo printing services shifts to the left. B) The supply curve for digital photo printing services shifts to the right. C) The supply curve for digital photo printing services shifts to the left. D) The demand curve for digital photo printing services shifts to the right.
Explain the difference between the Fed following discretionary policy and the Fed following a rules strategy
What will be an ideal response?
How does the leftward shift of the supply curve in graph 2 affect the individual firm shown in graph 1?
a. It causes the firm’s quantity of sales to decrease.
b. It causes the firm’s product price to increase.
c. It causes the firm to dip below its average total cost.
d. It causes the demand for the firm’s products to decrease.
If a firm has excess capacity, then
A) the firm expends too much of its resources on advertising its product without seeing an appreciable increase in sales. B) the firm is not producing its minimum efficient scale of output. C) the firm's long-run average cost of producing a given quantity exceeds its short-run cost of producing that same quantity. D) the firm's quantity supplied exceeds its quantity demanded.