Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4Refer to Figure 2.4. The economy moves from Point E to Point B. This could be explained by
A. a change in society's preferences for hybrid cars versus motorcycles.
B. an increase in economic growth.
C. an increase in unemployment.
D. a reduction in unemployment.
Answer: A
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University studies have shown that that chickens grow 2 percent larger when a red mitten is placed in their cage and Vivaldi is played in the coop. This leads to a reduction in feed costs of $60 million a year. In the chicken market, the
A. demand curve shifts to the right. B. supply curve shifts to the right. C. price will rise. D. quantity sold will fall.
Which view of the causes of the Great Depression emphasizes the decline in the money supply which caused aggregate demand for goods and services to shrink, leading businesses to cut production and employment?
(a) The Monetarists' (b) The Keynesians' (c) The Austrians' (d) The International View
The "rules of the game," the set of conditions that shape individual incentives and constraints, are determined by
a. the production possibilities frontier b. scarcity c. technology d. the amount of consumer goods in the economy e. laws about resource ownership and the role of government
The wage paid to labor should increase when:
a. the capital/labor ratio increases. b. the capital/labor ratio decreases. c. a country's labor force increases. d. a country's capital stock decreases.