Which of the following would be most likely to cause an outward shift of the demand curve for electricity?
a. a decrease in the price of electricity
b. an increase in the price of air conditioners
c. an increase in the price of heating oil
d. a decrease in the price of natural gas
c
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A jurisdictional dispute means that
A) members of a union disagree on the outcome of union elections. B) a higher court reversed the decision of a lower court in a case brought by a union. C) a union leadership and membership cannot agree on an issue. D) two unions disagree on which should represent workers in a particular industry.
Tax incidence is:
A. the difference between what the buyers pay and what the sellers receive in a market where taxes are present. B. the relative tax burden borne by buyers and sellers. C. the generated revenue that comes from taxes in markets. D. the difference between the tax revenue generated and the value of deadweight loss caused by the imposition of the tax.
When resources are at full capacity, output is less responsive to changes in ____ and the price level is ____
a. prices; stable b. prices; less responsive c. aggregate demand; highly responsive d. aggregate demand; less responsive
The unbalanced development strategy for economic development requires little government intervention
Indicate whether the statement is true or false