Which of the following could cause a recession?
a) An increase in consumption
b) An increase in saving
c) An increase in investment
d) An increase in government purchases
e) An increase in exports
b) An increase in saving
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If sellers compete against buyers, then
A) sellers would prefer to face more buyers in the market. B) sellers would prefer to face fewer buyers in the market. C) buyers would prefer to face fewer sellers in the market. D) buyers would prefer to face more sellers in the market. E) both B and C are true.
Describe the circumstances under which it would be better for the government to sell pollution permits than to levy a corrective tax
If the marginal revenue product of land is less than its price, a firm should
A. use more land. B. try to increase the productivity of land. C. use less land. D. increase the price it is willing to pay for land.
Other things remaining the same, a left shift in the supply curve will lead to:
A) a decrease in the equilibrium price and the equilibrium quantity. B) an increase in the equilibrium price and the equilibrium quantity. C) a decrease in the equilibrium price and an increase in the equilibrium quantity. D) an increase in the equilibrium price and a decrease in the equilibrium quantity.