In 1986, OPEC countries increased their production of oil. This caused
a. the price level to rise.
b. aggregate supply to shift right.
c. unemployment to rise.
d. None of the above is correct.
b
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A survey recently indicated that being happy at work tends to make workers more productive. What can be a possible error of this conclusion?
What will be an ideal response?
Political candidates tend to identify themselves as being "middle-of-the-roaders", while they tend to label their opponents as a member of the political fringe
Indicate whether the statement is true or false
A fashion fad significantly increases the demand for fedora hats. Which of the following would most likely be the result?
a. The price of fedoras would plummet. b. The production of fedoras would decline. c. Sellers would discount the price of their existing supply of fedoras. d. Buyers would compete fiercely to buy a limited quantity of fedoras.
A possible solution to the problems of external benefits is
A) to tax those receiving the extra benefits. B) production of the good by government. C) effluent fees. D) to restrict the amount of the good through direct government regulation.