Which of the following may shift the consumption schedule upward?
A. An increase in disposable income
B. A decrease in interest rates
C. A significant decrease in stock prices
D. A decrease in people's ability to borrow
B. A decrease in interest rates
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When the automobile replaced horse-drawn carriages as the principal means of transportation, firms producing horse-drawn carriages went bankrupt and permanently laid off all their workers, thereby increasing
i. seasonal unemployment. ii. structural unemployment. iii. cyclical unemployment. A) i and iii B) ii and iii C) ii only D) i and ii E) i only
Relative to Al, Joe has ________ if Joe can produce a good at a lower opportunity cost than Al
A) a marginal benefit B) a comparative advantage C) more production efficiency D) a free lunch E) a comparative benefit
Which statement below is true for a price searcher?
A) Net revenue can only be positive. B) Net revenue can only be negative. C) Net revenue can only be zero. D) Net revenue can be positive, negative, or zero.
The recent merger of Southwest Bell (SBC) and AT&T companies is an example of a
A) horizontal merger. B) vertical merger. C) consolidation merger. D) cooperative merger.