As the U.S. price level decreases, expenditures by which of the following will increase?
A. Consumers
B. Businesses
C. The rest of the world
D. All of these will increase their expenditures.
D. All of these will increase their expenditures.
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According to the graph shown, if the economy decides to impose a tariff, the government can expect to raise how much in government revenues?
This graph demonstrates the domestic demand and supply for a good, as well as a tariff and the world price for that good.
A. $19,500.
B. $27,000.
C. $34,500.
D. $37,500.
If a firm is unable to distinguish different customer groups
A) it will not use product differentiation. B) it will be unable to maximize profits. C) it will find the quantity to product indeterminate. D) it might use a product line extension.
Innovation that increases the productivity of capital equipment will increase the demand for labor in the short run but decrease wages in the long run.
Answer the following statement true (T) or false (F)
Economic profit affects:
A. the allocation of resources but not the level of resource use. B. the level of resource use but not the allocation of resources. C. the allocation of resources and the level of resource use. D. neither the allocation of resources nor the level of resource use.