In Figure 45.3, the fact that workers must pay for their apprenticeship in order to be certified is shown by 
Figure 45.3
A. the shift in the old supply curve.
B. the increase in the demand curve.
C. the slope of the old demand curve.
D. the kinked shape of the new supply curve.
Answer: A
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Refer to Figure 18.2. The opportunity cost of producing spears in Macadamia is
A) 3/4 of a fishing pole. B) 5/6 of a fishing pole. C) 6/5 fishing poles. D) 4/3 fishing poles.
Using the GG-LL framework, analyze the effect of Libya subsidizing the Pakistani Nuclear programs
What will be an ideal response?
If there are two goods and two countries, then one country can have
A) an absolute advantage in only one good. B) an absolute advantage in both goods. C) a higher opportunity cost of producing both goods. D) a lower opportunity cost of producing both goods.
What will be an ideal response?If demand and supply both decrease, which of the following is correct?
A. The equilibrium price rises but the impact on the equilibrium quantity is ambiguous. B. The effect on both the equilibrium quantity and on the equilibrium price is ambiguous. C. The equilibrium price decreases but the impact on the equilibrium quantity is ambiguous. D. The equilibrium quantity decreases but the impact on the equilibrium price is ambiguous. E. The equilibrium quantity increases but the impact on the equilibrium price is ambiguous.