If immigration is limited, it will move the aggregate supply curve left, due to a decrease in
Answer: Labor
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Voluntary exchange requires that there must be mutual gain.
Answer the following statement true (T) or false (F)
Assume the auto market is initially in equilibrium with imports from Japan taking up a significant share of the market. Now assume a quota on imports of Japanese cars is established
What will occur at the initial equilibrium price to signal market participants regarding the change that has taken place? A) A surplus is created by an increase in supply. B) A surplus is created by a decrease in demand. C) A shortage is created by an increase in demand. D) A shortage is created by a decrease in supply.
The market demand is the
a. sum of all individual demands in a market b. sum of all individual prices in a market c. sum of all individual demands and supplies in a market d. vertical sum of all individual demands e. horizontal sum of all individual prices
In the Soviet Union, most goods and services were produced by __________________.
Fill in the blank(s) with the appropriate word(s).