A buyer’s response to a change in income is an example of a “change in demand.”
Answer the following statement true (T) or false (F)
True
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When an investment bank ________ securities, it guarantees a price for a corporation's securities and then sells them to the public
A) underwrites B) undertakes C) overwrites D) overtakes
A firm with a flat demand curve
A) has no brand loyalty. B) has weak brand loyalty. C) has strong brand loyalty. D) isn't really worried about brand loyalty; flat demand curves guarantee zero profit.
Suppose that a per-unit subsidy is granted to each individual who consumes a product providing external benefits to society at large. Each individuals demand curve will shift ________, and the market demand curve for the product will shift ________
A) to the right; to the right B) to the right; to the left C) to the left; to the left D) to the left; to the right
Labor specialization can increase production primarily because workers
a. are now supervised more and so have to work harder b. become proficient when they specialize in what they do best c. have to work more hours to buy the things they want d. engage in competitive, rather than cooperative, production e. have to learn how to do every production-related task well