Refer to the graph shown. If a firm expected to produce 900 units when it built its plant but now desires to reduce its output to 600 units in the short run, it will use the plant size represented by:
A. SATC1.
B. SATC2.
C. SATC3.
D. SATC4.
Answer: C
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American households spend about ____ of the average family budget on services, with the rest spent on goods.
A. one-half B. two-thirds C. one-quarter D. one-tenth
Based on the figure above, which of the following factors could lead the demand curve to shift rightward from D0 to D1?
A) a fall in expected future U.S. exchange rate B) a fall in the U.S. exchange rate C) a rise in the U.S. interest rate D) a rise in the U.S. exchange rate E) a rise in foreign interest rates
Suppose the supply curve for digital cameras shifts to the right. This will cause a relatively large decrease in the price of digital cameras if both demand and supply are inelastic
Indicate whether the statement is true or false
Which of the following would cause the labor demand curve to shift to the right?
A) a decrease in demand for the product the labor is used to produce B) an increase in labor productivity C) a decrease in the price of a complimentary resource D) all of the above