In the diagram, a shift from AS 3 to AS 2 might be caused by an increase in:
A. business taxes and government regulation.
B. the prices of imported resources.
C. the prices of domestic resources.
D. productivity.
D. productivity.
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The labor demand curve of an imperfectly competitive seller is downward sloping
A. solely because of diminishing marginal utility. B. solely because of diminishing returns. C. because of both diminishing returns and the necessity to lower price to sell more output. D. solely because product price must be reduced to sell more output.
Household production, such as baking bread at home, is not included in GDP because it
A) has better quality than the bread in the store. B) has lower quality than the bread in the store. C) does not add anything of value to GDP. D) does not involve a market transaction. E) is not really production.
If a central bank decreases the money supply, then
a. prices, output, and unemployment rise. b. prices and output rise and unemployment falls. c. prices rise and output and unemployment fall. d. prices and output fall and unemployment rises.
Which of the following makes short-term conditional low-interest loans to LDCs?
A. World Bank B. Agency for International Development (AID) C. Agency for International Finance (AIF) D. International Monetary Fund (IMF)