Higher interest rates can cause the ________ curve for new cars to ________.
A. demand; shift to the right.
B. supply; shift to the right.
C. demand; shift to the left.
D. supply; shift to the left.
Answer: C
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One major reason that economists are concerned about unemployment is that
A) unemployment always leads to frictional unemployment. B) unemployment reduces the size of the labor force. C) unemployment shifts the production possibilities curve outward. D) the economy is producing less output than if there were full employment.
Which of the following is not one of the four principles of individual decision making?
a. People face trade-offs. b. Trade can make everyone better off. c. People respond to incentives. d. Rational people think at the margin.
Figure 11-9
In Figure 11-9, which of the following is true?
a.
MC = P
b.
MC = MR
c.
MU > MR
d.
MU < MC
Recall the Application about the government of Mexico City repainting highway lane lines to transform a 4-lane highway into a 6-lane highway to answer the following question(s).When computing percentage changes, using the simple approach results in increases and decreases which are:
A. identical. B. symmetric. C. not symmetric. D. more accurate than using the midpoint method.