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
TRUE
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The supply curve shifts rightward from S0 to S2 when the U.S. interest rate ________ and foreign interest rates are unchanged. The supply curve shifts rightward from S0 to S2 when the expected future exchange rate ________
A) falls; falls B) rises; rises C) falls; rises D) rises; falls E) None of the above answers is correct because the factors mentioned lead to movements along the demand curve and not to shifts of the demand curve.
The survey the Bureau of Labor Statistics uses to collect unemployment data is called the:
A. current population survey. B. census population survey. C. census employment survey. D. current employment survey.
Which of the following is a correct characterization of socialism?
a. Tradition answers the basic economic questions. b. Markets are used exclusively to answer the basic economic questions. c. Central planning is seldom used to answer the basic economic questions. d. Government ownership of many resources and centralized decision-making answers the basic economic questions.
When the benefit of another hour of work is greater than the opportunity cost, we would expect the worker to work:
A. another hour. B. exactly that amount. C. an hour less. D. Cannot be determined without more information.