Inventory reductions are a signal indicating that
A. the economy is close to disaster.
B. the Dow Jones Industrial Average will fall.
C. manufacturers need to increase production.
D. producers need to lower prices.
Answer: C
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The legislation passed in 2010 that was intended to reform regulation of the financial system was the
A) Glass-Steagall Act. B) Wall Street Reform and Consumer Protection Act. C) Sarbanes-Oxley Act. D) Federal National Mortgage Act.
The Edgeworth box:
A. is a diagram that shows two consumers' opportunities and choices in a single figure. B. can be used to illustrate equilibrium in a simple economy with no exchange. C. was first introduced by Paul Samuelson. D. shows the most worthy outcomes at the edges.
If the United States changed its laws to allow for the legal sale of a kidney, which of the following is likely to occur?
a. The price of kidneys would rise to balance supply and demand. b. The gains from trade would make both buyers and sellers better off. c. Thousands of lives would be saved. d. All of the above are correct.
Collective goods tend to be underprovided by private markets because:
A. it's not socially optimal for the price of these goods to be greater than zero. B. of the free-rider problem. C. of inefficiencies in the income tax system. D. these types of goods are usually provided by the government instead.