Supply-restricting policies are intended to shift the
A) supply curve to the left.
B) supply curve to the right.
C) demand curve to the left.
D) demand curve to the right.
E) b and d
A
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How can the influence of a third variable be shown on a two-dimensional graph?
A) by allowing the position of the relationship line or curve to shift on the graph B) by super-imposing the third variable on the two-dimensional graph C) by drawing a third axis coming out of the two axes D) by allowing the relationship to be nonlinear
The firm should hire more labor as long as doing so adds more to ________ than it does to ________
a. costs; revenues b. revenues; resources c. costs; resources d. revenues; costs
Which of the following is not a source of monopoly power?
A. Patents B. Rapid low cost technological change in the industry C. Exclusive control over inputs D. Economies of scale
The fact that severe fluctuations in inflation and unemployment are socially undesirable helps make the case for
A. a “hands off” policy by the government. B. fixed prices and wages. C. active government stabilization policy. D. restrictions on imports from low wage countries.