When the electronics retailer Circuit City closed its stores following the 2008 recession, the market supply of electronic goods:
A. decreased, causing the market price to fall.
B. decreased, causing the market price to rise.
C. increased, causing the market price to rise.
D. increased, causing the market price to fall.
Answer: B
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Using the data in the above table, if the price of an hour of labor is $10 and the price of a unit of capital is $20, then the most economically efficient technique for producing 100 sweaters is
A) A. B) B. C) C. D) D.
In the United States in 2012, the CDC estimated that the total number of people with diabetes (both diagnosed and undiagnosed cases) was lowest for people in the age range of ________, and the percentage of people with diabetes was lowest for people
in the age range of ________. A) 20-44; 20-44 B) 65 and older; 65 and older C) 45-64; 65 and older D) 65 and older; 20-44
Economists define money as
A) cash in circulation. B) deposits in commercial banks. C) anything that people are willing to accept in payment for goods and services or to pay off debts. D) bonds issued by large corporations.
Which of the following is not a reason for the downward slope of an aggregate demand curve?
a. Real balances effect. b. Real interest-rate effect. c. Net exports effect. d. All of these are reasons.