Which of the following would explain why Josh's Limo Service might increase its demand for limo drivers?
A) an increase in demand for limo rides, resulting in a rise in the price of a limo ride
B) a decrease in the demand for limo rides
C) a fall in the price of a taxi ride
D) a rise in the wage paid to limo drivers
A
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The table above gives the production possibilities frontier for two countries, Anaconda and Bear. The opportunity cost of moving from ________ is greater for ________
A) point E to point D; Bear B) point A to point B; Anaconda C) point B to point A; Bear D) point D to point E; Bear E) any point to any other point; Bear
Economies of scale exist over all ranges of output for which short-run average total cost exceeds long-run average cost
a. True b. False Indicate whether the statement is true or false
An increase in aggregate supply that has been brought about by changes in any other factor than the price level will cause _____
a. the aggregate supply curve to shift rightward b. the aggregate supply curve to shift leftward c. an upward movement along the aggregate supply curve d. a downward movement along the aggregate supply curve
An economy in which output has decreased and prices have increased would suggest that there has been a:
A. negative demand side shock. B. negative supply side shock. C. positive demand side shock. D. positive supply side shock.