If the rightward shift of the supply curve is greater than the leftward shift of the demand curve, the equilibrium price will ______ and the equilibrium quantity will ______.
a. rise; fall
b. fall; rise
c. rise; rise
d. fall; fall
b. fall; rise
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A country club charges a membership fee. Members pay competitive prices for the club's recreation and restaurant services. This situation is an example of
a. first-degree price discrimination. b. second-degree price discrimination. c. third-degree price discrimination. d. a two-part tariff.
The following data describe government spending and revenue
(a) How much is the budget deficit? (b) How much is the primary budget deficit? (c) How much is the full-employment budget deficit? (d) How much is the current deficit? (e) How much is the current primary deficit?
Explain what will happen to the production possibilities curve over time if society gives up some consumption goods in favor of more capital goods
What will be an ideal response?
When a country allows trade and becomes an importer of coal,
a. the losses of the domestic producers of coal exceed the gains of the domestic consumers of coal. b. the losses of the domestic consumers of coal exceed the gains of the domestic producers of coal. c. the gains of the domestic producers of coal exceed the losses of the domestic consumers of coal. d. the gains of the domestic consumers of coal exceed the losses of the domestic producers of coal.