Lionfish is an aquatic invasive species in the southeastern U.S. and the Caribbean. Current removal policies focus on harvesting the lionfish for human consumption
Assuming that lionfish is a substitute for snapper, what will likely happen to fishing efforts for lionfish if the price of snapper increases? A) Fishing efforts will increase.
B) Fishing efforts will decrease.
C) Fishing efforts will remain the same if supply is perfectly inelastic.
D) A and C.
D
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Free entry is said to exist in an industry when:
A) all firms entering an industry enjoy economies of scale. B) entry is unfettered by any special legal or technical barriers. C) equal amounts of inputs are available to all firms entering an industry. D) the government subsidizes costs for all new firms entering an industry.
James used $250,00 . from his savings account that paid an annual interest of 15% to purchase a hardware store. After one year, James sold the business for 320,000 . An economist calculated his profit to be:
a. $320,000 b. $70,000 c. $282,500 d. $32,500
The structural deficit can be used to estimate the thrust of current fiscal policy.
Answer the following statement true (T) or false (F)
Technological breakthroughs, such as the Internet, can be shown with a rightward shift of the aggregate supply curve.
Answer the following statement true (T) or false (F)