Which would be least likely to cause the production possibilities curve to shift to the right?
a. An increase in the labor force.
b. Improved methods of production.
c. An increase in the education and training of the labor force.
d. A decrease in unemployment.
d
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In the figure above, with the rent ceiling the quantity of housing supplied is ________ units, the quantity demanded is ________ units, and the quantity rented is ________ units
A) 3,000; 6,000; 3,000 B) 3,000; 6,000; 6,000 C) 3,000; 6,000; 4,000 D) 3,000; 3,000; 3,000 E) 4,000; 4,000; 4,000
Sam, a fish wholesaler, entered into a contract with a department store to supply herring at a price of $2.50 per pound for a year. When a hurricane closed most fisheries Sam increased the price to $3.25 per pound and refused to sell at the old price. Sam's behavior is an example of opportunism
Indicate whether the statement is true or false
What is likely to occur when the inflation rate increases, and workers do not receive pay increases?
A. Lower standard of living B. Higher consumer demand C. Decreased unemployment D. Increased spending
Eli can decide between two jobs. One job is harvesting grapes at a local vineyard. He would earn $8 every hour he works there. He could also earn $7 an hour working as a bagger at the local grocery. Assuming Eli can only choose between these 2 jobs and that the benefits of both jobs are the same. If Eli decides to work at the grocery store as a bagger the opportunity cost every hour he decides to work at the grocery is:
A. less than $8. B. exactly $7. C. exactly $8. D. more than $8.