Ceteris paribus, if Americans decide they want to drive more German-made cars, this causes the ________ German currency to ________.
A. demand for; decrease
B. supply of; increase
C. supply of; decrease
D. demand for; increase
Answer: D
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Under what conditions would a perfectly competitive cotton farmer who is incurring an economic loss temporarily stay in business?
A) if the total revenue exceeds the total fixed cost B) if the total revenue exceeds the total variable cost C) if the total revenue is positive D) if the total revenue is increasing E) if the marginal revenue exceeds the price.
What was the official policy of the British colonies toward the practice of "squatting," or freely settling and cultivating the land?
(a) Squatting was encouraged as a way to promote settlement of the land. (b) Colonial officials discouraged squatting because the indigenous populations legally owned land. (c) There was no policy toward the practice of "squatting"; it was left to the individual settlers. (d) The official policy opposed squatting because it did not involve a formal transfer of ownership.
A deadweight loss is a consequence of a tax on a good because the tax
a. induces the government to increase its expenditures. b. induces buyers to consume less, and sellers to produce less. c. increases the equilibrium price in the market. d. imposes a loss on buyers that is greater than the loss to sellers.
"When workers acquire tools, they become more productive.". This statement reflects the general fact that __________ is a determinant of productivity
Fill in the blank(s) with correct word