The CPI does not reflect the increase in the value of the dollar that arises from the introduction of new goods
a. True
b. False
Indicate whether the statement is true or false
True
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"Second-hand" smoke, an often cited disadvantage of allowing smoking in restaurants, is referred to in economics as a(n)
A) capital good. B) externality. C) economic cost. D) negative investment.
Which of the following statements is false?
A) The shift factors for the supply curve are: income, preferences, prices of related goods, the number of buyers, and expectations of future price. B) A change in (own) price changes the quantity supplied of a good. C) A change in demand is graphically represented by a shift in the demand curve. D) A change in quantity demanded is represented by a movement along a given demand curve.
Which of the following would be effective transitions in a team presentation?
The demand for cars in a certain country is given by: D = 20,000 - P, where P is the price of a car. Supply by domestic car producers is: S = 5,000 + 0.5P.If this economy is open to trade, and the world price of a car is $6,000, the domestic quantity demanded will be ________ and quantity supplied will be ________.
A. 8,000; 14,000 B. 12,000; 8,000 C. 12,000; 10,000 D. 14,000; 8,000