Refer to the information provided in Figure 3.12 below to answer the question(s) that follow.
Figure 3.12Refer to Figure 3.12. The supply curve for hula hoops shifts from S0 to S1. This could be caused by
A. a decrease in the number of firms selling hula hoops.
B. a decrease in the demand for hula hoops.
C. a decrease in the price of hula hoops.
D. either B or C.
Answer: A
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
Suppose the United States eliminates high tariffs on German bicycles. As a result, we would expect
A. the price of German bicycles to increase in the United States. B. employment to decrease in the U.S. bicycle industry. C. employment to decrease in the German bicycle industry. D. profits to rise in the U.S. bicycle industry.
During a year, the average American worker puts in about _____ hours on the job.
A. 2800 B. 2400 C. 2000 D. 1800
Amalgamated Widget Company is currently considering which investment projects it should undertake. The following list of projects along with the estimated rate of return of each project is presented to the executive management team:Project A (9%)Project B (7.5%)Project C (6.5%)Project D (11%)Project E (5.5%)If the current interest rate in the loanable funds market holds steady at 6%, we would expect the company to undertake ________ projects.
A. two B. four C. three D. five