In the circular flow diagram everyone's expenditure is someone else's cost.
Answer the following statement true (T) or false (F)
False
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Governments invest in infrastructure to:
A. to increase the productivity of businesses. B. to spur economic growth. C. to increase the growth rate of GDP per capita. D. All of these are reasons why the government provides infrastructure.
Refer to the graphs shown.
If labor supply shifts from S1 to S2, the market wage rate will:
A. decrease from W1 to W0. B. increase from W0 to W1. C. increase from W1 to W2. D. decrease from W2 to W1.
Over the next few years the number of buyers in the market for sport utility vehicles decreases sharply. As a result, Question 2 options:
A. there is a movement downward along the demand curve for sport utility vehicles. B. the demand curve for sport utility vehicles shifts leftward. C. the demand curve for sport utility vehicles shifts rightward. D. there is neither a shift nor a movement along the demand curve for sport utility vehicles.
You sell your good in a perfectly competitive market where the market price is $33.00. When you sell 100 units your total revenue is $3,300. When you sell 101 units:
A. total revenue increases by less than $33. B. total revenue increases by exactly $33. C. total revenue increases by more than $33. D. total revenue may increase or decrease.