When production costs increase and producers raise output prices, the result is
A. Unemployment.
B. Demand-pull inflation.
C. Cost-push inflation.
D. The price effect.
Answer: C
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Which of the following groups are overrepresented among those with low incomes?
a. youthful inexperienced workers b. college students working on graduate degrees c. single-parent families d. all of the above
Which of the following is NOT true about a tariff?
A) It is a barrier to entry in a market. B) It leads to a natural monopoly. C) It is a tax. D) It affects imported goods.
The market supply curve indicates the:
A. Minimum acceptable prices that sellers are willing to accept for the product B. Maximum prices that buyers are willing and able to pay for the product C. Total revenues that sellers would receive from selling various quantities of the product D. Total amount that buyers will pay in buying a given quantity of the product
About what price per barrel of oil is necessary for biodiesel to become economically viable as an alternative energy source?
A. $30 per barrel B. $50 per barrel C. $100 per barrel D. $80 per barrel