Colorado experiences a record snowfall during the winter season. What impact will this have on the market for snowmobiles?
a. The supply of snowmobiles will increase and the price of snowmobiles will increase.
b. The supply of snowmobiles will increase and the price of snowmobiles will fall.
c. The demand curve for snowmobiles will decrease and the price of snowmobiles will fall.
d. The demand curve for snowmobiles will increase and the price of snowmobiles will rise.
d. The demand curve for snowmobiles will increase and the price of snowmobiles will rise.
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Who is an unemployed worker? If the number of employed workers in a country, where the size of the labor force is 4 million, is 2.75 million, what is the number of unemployed workers in the country?
What will be an ideal response?
In practice, oligopolistic markets are:
A. fairly common. B. very rare. C. forbidden by the government. D. usually protected by the government.
Diseconomies of scale exist over the range of output for which the long-run average cost curve is:
A. constant. B. falling. C. rising. D. subject to diminishing returns.
Using Table 6.1, were there to have been deflation during this time period, you would have seen 
A. a stationary CPI. B. a more rapid rate of increase in the CPI. C. a slower rate of increase in the CPI. D. a decrease in the CPI.