A technological advance in the production of the first good increases the opportunity cost of the first good in terms of the second good
a. True
b. False
Indicate whether the statement is true or false
True
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German luxury car exports were hurt in 2009 as a result of the recession. How would this decrease in exports have affected Germany's aggregate demand curve?
A) The aggregate demand curve would have shifted to the right. B) The aggregate demand curve would have shifted to the left. C) The aggregate demand curve would not have shifted, but there would have been a movement down the aggregate demand curve. D) The aggregate demand curve would not have shifted, but there would have been a movement up the aggregate demand curve.
The legislation which made it illegal to engage in practices that resulted in the restraint of trade was the:
A. Sherman Act. B. Clayton Act. C. Robinson-Patman Act. D. Celler-Kefauver Act.
A surplus exists
A) in equilibrium. B) when quantity supplied is greater than quantity demanded. C) when quantity supplied is less that quantity demanded. D) at the market clearing price.
Refer to the graph shown.
The diagram demonstrates that an increase in the price of soda will:
A. raise the quantity demanded of chocolate bars. B. reduce the quantity demanded of soda. C. raise the quantity demanded of soda. D. raise the consumer's available income.