Which of the following would cause a rightward shift of the supply curve for cell-phone services?
A. a decrease in price of cell-phones
B. an increase in price of cell-phones
C. a subsidy to cell-phone producers
D. a tax on cell-phone producers
Answer: C
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An economic recession produces
A) a decrease in cyclical unemployment. B) an increase in structural unemployment. C) a decrease in natural unemployment. D) an increase in cyclical unemployment. E) an increase in natural unemployment.
The quantity measure in the aggregate demand relationship is the:
A. total quantity of goods and services demanded in the economy. B. total quantity of goods and services supplied in the economy. C. market value of the total quantity of goods and services demanded in the economy. D. market value of the total quantity of goods and services supplied in the economy.
Which of the following statements is true?
A. Emissions-trading is trading that allows firms to buy and sell the right to pollute. B. The Coase Theorem is the proposition that private markets can rarely ever achieve social efficiency. C. The free-rider problem refers to those who ride on public transit systems without paying. D. Government failure has never occurred in the United States.
From World War II to the early 1970s, GM, Ford, and Chrysler enjoyed
A. a natural monopoly. B. market advantage. C. market power. D. perfect competition.