Assume the graph shown represents the market for button-up shirts and was originally in equilibrium with D and S. What type of shock might cause a shift from D to D2?
A. The price of ties went up.
B. The price of buttons has increased.
C. The price of sweatshirts went up.
D. Income has increased.
Answer: D
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According to economic analysis, the optimal level of pollution is
A) always zero. B) at the point at which the marginal benefits of pollution control exceed the marginal cost. C) at the point at which the marginal benefits of pollution control are less than the marginal cost. D) at the point at which the marginal benefits from pollution control are equal to the marginal cost.
Owners of corporations are referred to most frequently as
a. entrepreneurs b. lien holders c. limited partners d. managers e. stockholders
Suppose in an economy, investment = $40, saving = $50, government spending+export = $100 and taxes+imports = $110 . Then for this economy, total leakages exceed total injections by:
a. $30. b. $25. c. $10. d. $45. e. $20.
In a perfectly competitive industry, the industry demand curve
A. must be vertical. B. is upward sloping. C. must be horizontal. D. is downward sloping.