Which would most likely increase aggregate supply?
A. A decrease in business subsidies
B. A decrease in personal income taxes
C. An increase in productivity
D. An increase in the prices of imported products
Answer: C
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When quantity supplied is not very responsive to a change in price, supply is
A) elastic. B) unit-elastic. C) inelastic. D) income sensitive.
The greatest expansion of the automobile industry occurred in the decade of the ______.
Fill in the blank(s) with the appropriate word(s).
What is the definition of a discouraged worker?
A) a member of the labor force who is working but is discouraged about his prospects for advancement within the company B) a member of the labor force who is working but is discouraged about the performance of his company within the industry C) a person who has dropped out of the labor force because he is discouraged about his prospects for employment D) an employed member of the labor force who is discouraged about his pay
One reason De Beers has lost some of its monopoly power is:
A. antitrust laws B. competition from Canadian and Russian diamond mines. C. pressure from consumers. D. All of these statements are true.