If coal-burning electrical utility companies fully internalized pollution costs, then we could expect
A. an increase in electricity prices.
B. no change in electricity prices.
C. a greater use of coal to produce electricity.
D. a decrease in electricity prices.
Answer: A
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If price falls, what happens to the demand for a product?
a. It decreases. b. Uncertain--economic theory has no answer to this question. c. It does not change. d. It increases.
Who of the following would be considered a discouraged worker?
A. Frank would like to work, but has not looked for work because he believes no jobs are available. B. Melissa has a Ph.D. in physics, but is currently employed full time driving a taxi. C. Ray wants to work forty hours per week, but can only find work for twenty hours per week. D. Anna Marie has been looking for a job every day for the last month, but has not been hired.
The production decision is another term for the investment decision.
Answer the following statement true (T) or false (F)
The supply curve shows the relationship between:
A. physical inputs of resources and the resulting units of output. B. total business revenues and quantity supplied. C. price and quantity supplied. D. production costs and the amount demanded.