Consider a production possibilities frontier with corn on the vertical axis and cars on the horizontal. Unusually good weather for growing corn shifts
A) the horizontal intercept rightward and the vertical intercept upward.
B) the horizontal intercept rightward but does not shift the vertical intercept.
C) the vertical intercept upward but does not shift the horizontal intercept.
D) neither the horizontal intercept nor the vertical intercept.
C
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Refer to Table 4-12. The equations above describe the demand and supply for Bubba's Fried Jellybeans. What are the equilibrium price and quantity (in thousands) for Bubba's Fried Jellybeans?
A) $40 and 5 thousand B) $20 and 20 thousand C) $60 and 10 thousand D) $80 and 40 thousand
If Slick Shades, a sunglasses manufacturer, purchases several local retail shops to sell their sunglasses, this is an example of ________.
A) divestiture B) forward integration C) backward integration D) outsourcing
Can purchasing-power parity be used to explain the fact that the U.S. dollar depreciated by more than 50 percent against the German mark between 1970 and 1998, but appreciated by more than 100 percent against the Italian lira during the same period? Defend your answer
Minimum-wage laws are least likely to affect the wages paid to
a. teenagers. b. low-skill workers. c. inexperienced workers. d. highly-educated workers.