Figure 3.4 illustrates the demand for tacos. A decrease in the demand for tacos is represented by the movement from:
A. point a to point b.
B. point c to point b.
C. D2 to D1.
D. D0 to D1.
Answer: C
You might also like to view...
The standard of living is measured by
A) employment. B) the population. C) real GDP per person. D) real GDP. E) employment per person.
Which of the following would be considered rent-seeking activity?
a. A software firm using lawsuits to drive competitors out of business. b. A technology firm investing in extremely expensive capital equipment. c. A large firm trying to charge lower prices than its competitors. d. An auto manufacturer using features and styling to differentiate its models from its competitors'.
Are we running out of natural resources?
a. No, because we may abandon the use of a particular resource before we exhaust its supply. b. Yes, because some resources are nonrenewable. c. Yes, because all resources are eventually nonrenewable. d. Yes, because we live in a finite world. e. No, because all resources are in infinite supply.
The incentive structure is a
A. system of rewards and punishments that individuals consider when making decisions. B. system determined by the federal government that gives certain states more federal funds. C. system of checks and balances in the government. D. system of infrastructure in the United States that improves commerce.