Which of the following will NOT affect the supply of cars?
A) an increase in the price of steel
B) an improvement in automobile production technology
C) an increase in the productivity of auto workers
D) a decrease in the price of cars
D
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According to the policy trilemma hypothesis, of the three goals generally pursued by policymakers in an open economy,
A) only one of the goals is possible to achieve at any one time. B) it is possible for a country to achieve two of the goals at the same time, but not all three. C) it is possible for a country to achieve all three goals at the same time in the short run, but not in the long run. D) it is only possible for a country to achieve all three goals at the same time in the long run.
A relatively flat demand curve indicates that
a. quantity demanded will adjust only slightly to a price change. b. quantity demanded will adjust significantly to a price change. c. quantity demanded will not adjust to a price change. d. the change in quantity demanded will exactly equal a change in price.
An example of a natural resource is:
A. Bill Gates' revolutionary iPod. B. Farmer Joe's farm fields. C. Michael Jordan's athletic ability. D. All of these are examples of natural resources.
Refer to the scenario above. Alice will earn an expected surplus of ________ if she uses her optimal strategy to win the game
A) $5,000 B) $6,000 C) $30,000 D) $16,000