If supply increases and demand remains unchanged, equilibrium quantity will _______ and equilibrium price will ______________.
A. rise; rise
B. fall; fall
C. fall; rise
D. rise; fall
D. rise; fall
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Points inside the PPF are all
A) unaffordable. B) attainable and have some unemployed resources. C) unattainable and have some unemployed resources. D) attainable and have fully employed resources. E) unattainable and have fully employed resources.
Refer to Figure 9-3. What is the area that represents the deadweight loss as a result of the quota?
A) E + M B) G + H C) G + H + I + J D) E + I + J + M
The term "________" denotes the adaptation of new technological ideas to existing products and services
a. invention b. merger c. innovation d. economies of scale
If the U.S. dollar becomes weaker in international markets, the net effects will include
A. an increase in both short run aggregate supply (SRAS) and aggregate demand. B. an increase in short-run aggregate supply (SRAS) and a decrease in aggregate demand. C. a decrease in short-run aggregate supply (SRAS) and an increase in aggregate demand. D. a decrease in both short run aggregate supply (SRAS) and aggregate demand.