Which of the following will reduce consumer expenditures?
A) a decrease in expected future income B) a decrease in interest rates
C) a decrease in the price level D) a general increase in housing prices
A
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Use the following table to answer the question below.Alexandra's Production Possibilities ScheduleNatalia's Production Possibilities ScheduleNumber of Scarfs Knitted per dayNumber of Sweaters Knitted per dayNumber of Scarfs Knitted per hourNumber of Sweaters Knitted per hour040433236242916112080Which of the following is an acceptable term of trade?
A. 4 scarves for 2 sweaters B. 6 scarves for 1 sweater C. 2 scarves for 2 sweaters D. 10 scarves for 3 sweaters
If we say that demand has increased, we mean that there has been
a. a leftward movement along the demand curve b. a rightward movement along the demand curve c. a leftward shift of the demand curve d. a rightward shift of the demand curve e. an increase in the slope of the demand curve
When there is a labor union, the labor supply curve is
a. a horizontal line at the desired wage b. positively sloped c. negatively sloped d. a vertical line at the desired level of employment e. backward bending
What three conditions must be present for a natural monopoly to exist?
a. one supplier, no close substitutes, barriers for entry b. multiple suppliers, many close substitutes, no barriers for entry c. one supplier, many close substitutes, few barriers for entry d. few suppliers, no close substitutes, no barriers for entry