Suppose job search has decreased over the last several years. This decrease could be a result of
i. a change in unemployment benefits.
ii. a positive structural change.
iii. a higher inflation rate.
A) i only B) ii only C) i and iii D) i and ii E) ii and iii
D
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When the price level is low and the demand for domestic goods increases, how does it affect international trade?
A) Prices of all international goods will increase. B) Prices of all international goods will decrease. C) Net exports will decrease. D) Net exports will increase.
Refer to the graphs shown. If consumers began purchasing more of this product due to a decrease in price, this would be shown by arrow:
A. A. B. B. C. C. D. D.
Suppose that the installation, operating, and maintenance costs of a large wind turbine is four times that of a small turbine and has four times the generating capacity. The wind power industry faces:
A. constant returns to scale. B. economies of scale. C. increasing marginal cost. D. diseconomies of scale.
Mark Frost grows apples in a perfectly competitive market. If we drew a line in a graph that illustrates Mark's total revenue from selling apples, it would be
A) a straight, upward-sloping line. B) a horizontal line. C) a straight, downward-sloping line. D) a curve that is negatively sloped at low levels of output and positively sloped at higher levels of output.