The concept of aggregate supply refers to a
a. fixed number of output.
b. list of products demanded.
c. schedule of output.
d. schedule of production costs.
c
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How can the government cut the cost of negotiation among car owners regarding LoJack installation?
a. The government can impose a quota on the import of LoJacks. b. The government can invite public opinion on LoJacks. c. The government can limit the number of companies producing LoJacks. d. The government can randomly select cars to install LoJacks.
The ratio of the prices of two goods multiplied by -1 is equal to the slope of the budget line
a. True b. False
Economic discrimination occurs when equivalent factors of production receive different payments for equal contributions to output
a. True b. False Indicate whether the statement is true or false
Which of the following is an example of The Big Squeeze?
A. High profits attract new entrants, which increases supply, and drives down prices. B. High profits drive out businesses, which increases supply, and drives up prices. C. High profits drive out businesses, which increases supply, and drives down prices. D. High profits attract new entrants, which increases supply, and drives up prices.