What will happen when there is a rightward shift in the demand curve?
A. The product price will instantaneously adjust downward.
B. A new, higher price is not instantaneously achieved, but the price will rise over time.
C. Producers will decrease the product price.
D. Product prices do not change in this situation.
Answer: B
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What percentage of all banks in the United States belong to the Federal Reserve System?
A) 5% B) 38% C) 75% D) 90%
The demand curve for labor slopes downward because
a. few workers work at low wages. b. capital has been substituted for labor in most industries. c. of the diminishing marginal product of labor. d. All of the above are true.
According to Keynes, the private sector (by itself)
A) can always move the economy out of a recessionary gap in a timely manner. B) cannot always move the economy out of a recessionary gap in a timely manner. C) can never move the economy out of a recessionary gap. D) can only move the economy out of a recessionary gap if the SRAS curve drops. E) can only move the economy out of a recessionary gap if the SRAS curve rises.
A soft-drink bottling company supplies six-packs of orange flavored soda to retailers for a price of $2 each. If the components in each six-pack costs the bottling company $1.50, the value added, to each six-pack, by the bottling company is:
a. $2.00. b. $1.50. c. $1.25. d. $1.00. e. $0.50.