Policies focused on putting people to work by reducing the costs to their employers would be considered
A. supply-side policies.
B. demand-side and supply-side policies.
C. demand-side policies.
D. monetary policies.
Answer: A
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If consumers buy a large number of plug-in electric cars, the equilibrium price of electricity will ________ and the equilibrium quantity of electricity will ________
A) rise; decrease B) not change; increase C) fall; increase D) fall; decrease E) rise; increase
Refer to Table 5.1. Andrea has a comparative advantage in the production of
A) bracelets. B) tiaras. C) both products. D) neither product.
According to the law of demand,
A) everything has its price. B) human wants are insatiable. C) people will do anything to obtain goods they want. D) there are no free goods. E) there is a negative relationship between the amount of anything people will purchase and the sacrifice that must make to obtain it.
Which of the following is a rival good that is nonexcludable?
a. public good b. private good c. common resource d. none of the above