If the labor force increases in size, which of the following would NOT occur?
A. The labor supply curve would shift to the right.
B. The equilibrium wage would fall.
C. The labor demand curve would shift to the right.
D. The number of workers employed would rise.
Answer: C
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If the cross-price elasticity of demand between blueberries and yogurt is negative, then the two goods are:
A. normal goods. B. inferior goods. C. substitutes. D. complements.
The marginal cost curve of pollution abatement is
A) downward sloping. B) upward sloping. C) horizontal. D) vertical.
The phenomenon known as the tragedy of the commons occurs whenever:
a. the private sector owns resources and manages them tragically. b. the government owns resources and manages them tragically. c. there is no ownership of resources, so they become depleted due to lack of management. d. two countries own the same resource and cannot agree on its management.
An economy in which output has decreased and prices have increased would suggest that there has been a:
A. negative demand side shock. B. negative supply side shock. C. positive demand side shock. D. positive supply side shock.