Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, a decrease in unemployment may be represented by the movement from
A. B to A.
B. C to D.
C. B to D.
D. A to C.
Answer: B
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Which of the following is not an argument for private sector production of collective consumption goods?
a. The good might only be a collective consumption good because of current government production. b. Private sector production provides information about consumer preferences about the good. c. The private sector has lower pay scales then government, lowering overhead costs. d. Taxes used to finance government production produce deadweight losses.
In which of the following situations will market clearing price decrease and the equilibrium quantity increase?
A) an increase in demand with no change in supply B) an increase in supply with no change in demand C) a decrease in supply with no change in demand D) a decrease in demand with no change in supply
According to one research study focusing on Indonesia, actions by nongovernmental organizations are ___________ than importing countries' threats to raise tariffs.
a. less effective in raising wages and limiting declines in employment b. more effective in raising wages and limiting declines in employment c. less effective in raising wages but more effective in limiting declines in employment d. more effective in raising wages but less effective in limiting declines in employment
A firm can be the only firm in an industry and still not be a monopoly if
A) the firm is not large. B) the firm is not making economic profits. C) the firm produces a good similar to a good in another industry. D) the firm produces a good that is not considered a necessity.