A decrease in productivity will shift
A. aggregate supply to the right.
B. aggregate supply to the left.
C. aggregate demand to the left.
D. aggregate demand to the right.
Answer: B
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If four quick oil change service companies agree to reduce the number of cars they service each month in an effort to raise the price for the service, this is an example of ________.
A) market division B) output restrictions C) bid suppression D) resale price maintenance
Which of the four criteria for an ideal voting system is demonstrated when everyone in a town prefers spending on improved public transportation systems instead of public parks, and transportation spending wins?
A. No dictator B. Unanimity C. Independence of irrelevant alternatives D. Transitivity
If the firm were a perfect competitor in the long run, how much would its output be?
Refer to the graph shown. A firm can produce the same amount of output at points:
A. B and C. B. E and C. C. A and C. D. A and B.