A negative supply shock ______ the amount producers will supply at any given price.
a. decreases
b. increases
c. destabilizes
d. corrects
a. decreases
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Which of the following would result from a tariff?
a. An increase in government budget deficit b. An increase in domestic production c. A greater volume of international trade d. Increased domestic consumption e. Decrease in prices of the imported goods
The 3 approaches to measuring GDP are called the
A. accounting approach, income approach, and expenditure approach B. product approach, cost approach, and expenditure approach C. product approach, income approach, and expenditure approach D. accounting approach, statistical approach, and income approach
When the price of fresh fish increases 10%, quantity demanded is unchanged. The price elasticity of demand for fresh fish is
A. perfectly inelastic. B. inelastic. C. unitary elastic. D. elastic.
Who popularized the expression "Time is money."
a. Benjamin Franklin b. George Washington c. Herbert J. Jones d. Amanda Cunningham