An increase in consumer desire for strawberries is most likely to:
A. increase the number of strawberry pickers needed by farmers.
B. reduce the supply of strawberries.
C. reduce the number of people willing to pick strawberries.
D. reduce the need for strawberry pickers.
Answer: A
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To measure the amount of tax money collected by the government, one uses the vertical distance between points
The accompanying diagram shows the effect of levying an income tax on the consumer. The pre-tax optimum is at point A, and the post-tax optimum is at point B.
a. A and B.
b. A and D.
c. B and C.
d. B and D.
U.S. imports ________.
A. increase the foreign demand for foreign currencies B. increase the domestic supply of foreign currencies C. decrease the foreign supply of foreign currencies D. increase the domestic demand for foreign currencies
The productive resource that organizes labor, land, and capital is
A) capital. B) financial capital. C) human capital. D) government. E) entrepreneurshi
As products become less differentiated:
A. consumers are less willing to switch in response to price changes and competition becomes more intense. B. consumers are more willing to switch in response to price changes and competition becomes more intense. C. consumers are less willing to switch in response to price changes and competition becomes less intense. D. consumers are more willing to switch in response to price changes and competition becomes less intense.