Refer to the supply and demand graph of Product X below. What would happen if the government decided to also start providing Product X in the market?
A. Demand would decrease
B. Demand would increase
C. Supply would decrease
D. Price would decrease
D. Price would decrease
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Which of the following statements accurately describes pre-1763 British colonial policy?
a. England taxed the colonies extensively, requiring the colonists to pay a substantial portion of the costs of government administration and military protection. b. The Navigation Acts placed a severe economic burden on the colonies, equaling more than 30 percent of colonial income. c. England discouraged western settlements in an effort to reduce conflicts between colonists and Native Americans. d. Colonial laws were not officially in effect until the Privy Council granted its approval. e. All of the above statements accurately describe pre-1763 British colonial policy.
Inflation is defined as a sustained increase in an economy's price level
a. True b. False Indicate whether the statement is true or false
Which of the following was a contributing factor to the rising default and foreclosure rates beginning in the latter half of 2006?
a. the increasing share of 30-year, fixed rate loans as a share of outstanding mortgages b. the rigid standards of rating agencies, such as Moody's and Standard and Poors, which limited the development of mortgage-backed securities c. the price-stability policies of the Federal Reserve during 1998-2008 d. the erosion of lending standards during the preceding decade
A monopolistically competitive industry has:
A. a few firms producing identical products. B. many firms producing identical products. C. a few firms producing differentiated products. D. many firms producing differentiated products.