Refer to the graph shown.
A movement from A to B is most likely to be caused by ________.
A. a decrease in aggregate demand
B. an increase in input prices
C. a decrease in input prices
D. an increase in aggregate demand
Answer: B
You might also like to view...
The figure above shows Ilene's budget line. If Ilene's income rises, her budget line will
A) rotate and become flatter. B) rotate and become steeper. C) shift rightward and its slope will not change. D) shift leftward and its slope will not change.
Tony's Italian Ice is a monopolistically competitive firm. If Tony's earns a profit in the short run, which of the following is most likely to occur?
A) New firms that sell Italian ice will enter the market and Tony's demand curve will shift to the right. B) New firms that sell Italian ice will enter the market and Tony's demand curve will become more inelastic. C) New firms that sell Italian ice will enter the market and Tony's cost curves will shift to the left. D) New firms that sell Italian ice will enter the market and Tony's demand curve will shift to the left.
Politicians often point to wage differentials as evidence of labor-market discrimination against ethnic minorities and women; however, economists argue against this approach because people differ in the amount of human capital they have and the kinds of work they are willing and able to do
a. True b. False Indicate whether the statement is true or false
What might be the effect of a union on a given occupation?
a. limit supply of labor b. stabilize demand for labor c. drive down wages d. drive down quality