Which of the following will cause a leftward shift of the supply curve for houses?
A.) A decrease in consumer incomes.
B.) An improvement in the technology used to build houses.
C.) Consumer expectations that the price of houses will increase next year.
D.) An increase in the cost of construction materials.
D.) An increase in the cost of construction materials.
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Advertisers go to great lengths to build brand loyalty because
A. it makes their product more elastic. B. it makes their product more inelastic. C. it shifts its supply curve to the right. D. it shifts its demand curve to the left.
As of April of 2008,
A. none of the people caught up in the corporate scandals had pleaded guilty. B. officials of only three corporations have been charged with serious crimes. C. the employees of Enron had recovered most of their lost pension funds when the courts forced that company's officials to return money they had stolen. D. several corporate criminals received jail sentences of 10 years or more.
Negative externality occurs when
A. the production of a good harms third parties. B. the production of a good helps third parties. C. the consumption of a good helps third parties. D. a buyer is sold inferior and damaged merchandise.
Another description for capitalism is:
a. The socialist economy b. The market system c. The system of inputs and outputs d. The command system