if a business is realizing economic losses in a competitive market, it is:
What will be an ideal response?
producing goods and services that are valued less than the resources required to produce them
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An increase in the price of ice cream is likely to cause:
A. a movement to the left along the demand curve for ice cream. B. an inward shift of the demand curve for ice cream. C. an outward shift of the demand curve for ice cream. D. a movement to the right along the demand curve for ice cream.
Today, the Federal Trade Commission (FTC) is concerned with:
a. enforcing consumer protection legislation. b. prohibiting deceptive advertising. c. preventing collusion. d. all of these.
The standard view in economics is that tax cuts without ________ will ________ the budget deficit resulting in ________
A) increasing spending; decrease; unemployment B) spending cuts; decrease; unemployment C) increasing spending; increase; crowding out investment D) spending cuts; decrease; crowding out investment E) spending cuts; increase; crowding out investment
In order for bubbles to occur, expectations of a price increase usually_______demand and ______supply
a. Increases; Increases b. Increases; Decreases c. Decreases; Increases d. Decreases; Decreases