Which of the following best describes the market reaction if a city restricts the number of firms that are allowed to operate in a market?
A) The market supply curve shifts to the left.
B) The market demand curve shifts to the left.
C) Quantity supplied increases because price increases.
D) Price decreases.
A
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If the country of Zorg has a birth rate of greater than 2.2 births per woman, it is likely that Zorg is an industrial market country
a. True b. False
Some individuals or families can become completely saturated with a service such as television. This suggests that
a. wants are limited b. desires for a single commodity can be satisfied but then the focus will switch to other goods and services c. a highly productive economy may someday be able to satisfy all human desires d. resources are not truly fixed in supply as we generally assume e. scarcity does not exist
Which of the following is NOT a reason for the inability to stabilize output?
A) lags between observation and action B) policy actions can immediately take effect C) policy constraints D) preference to maintain long-range goals
The speculative demand for money is related to money functioning as a
A. Medium of exchange. B. Unit of account. C. Standard of value. D. Store of value.