All of the following are economic explanations for why shopping carts have gotten bigger over the years.
a. more women in the marketplace have made spending time in the grocery store more costly.
b. grocery stores now have a wider variety of items available.
c. store owners are "tricking" customers in into buying more groceries by making them feel ashamed that their carts are not full.
d. shoppers have become wealthier over the years and are willing to pay for the luxury of wide aisles and the big carts that go along with wider aisles.
c. store owners are "tricking" customers in into buying more groceries by making them feel ashamed that their carts are not full.
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All of the following are arguments in favor of restricting trade EXCEPT
A) comparative advantage. B) protecting domestic jobs. C) protecting emerging industries. D) dumping.
If the federal government brings in $3 trillion in tax revenues and spends $4 trillion, the government has a budget:
A. surplus of $1 trillion. B. deficit of $1 trillion. C. surplus of $7 trillion. D. deficit of $0.75 trillion.
A decrease in savings deposits would ____ M1 and ____ M2. a. increase; increase
b. not change; increase. c. decrease; decrease. d. not change; decrease.
The elasticity of labor supply measures the
A. Magnitude of the substitution effect of labor. B. Responsiveness of the wage rate to changes in the labor supplied. C. Responsiveness of labor supplied to changes in the wage rate. D. Opportunity cost of labor.