Other things equal, which of the following might shift the demand curve for gasoline to the left?
A. The discovery of vast new oil reserves in Montana.
B. The development of a low-cost electric automobile.
C. An increase in the price of train and air transportation.
D. A large decline in the price of automobiles.
Answer: B
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Suppose the Bureau of Labor Statistics interviews 196,700 people in its monthly survey; 94,500 are not in the labor force, 91,150 are employed, 8,870 are unemployed, and 2,180 are in the armed forces
What is the unemployment rate the BLS announces? A) 8.87 percent B) 9.73 percent C) 9.39 percent D) 4.51 percent E) 10.81 percent
Which of the following is a shortcoming of GDP?
a. GDP measures used goods and services. b. GDP includes changes in inventories. c. GDP includes the value of net exports. d. GDP does not make an allowance for leisure time.
A $2.00 tax levied on the sellers of birdhouses will shift the supply curve
a. upward by exactly $2.00. b. upward by less than $2.00. c. downward by exactly $2.00. d. downward by less than $2.00.
One reason for increasing costs industries is that as an industry grows, it drives up the prices of inputs.
Answer the following statement true (T) or false (F)