Outlawing the sale of a good shifts the supply curve
A) leftward and lowers the price.
B) leftward and raises the price.
C) rightward and lowers the price.
D) rightward and raises the price.
B
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The cost savings from outsourcing often lead to ________ for consumers and ________ for the outsourcing company
A) lower prices; more output B) lower prices; less output C) higher prices; more output D) higher prices; less output
According to the equation of exchange, nominal Gross Domestic Product (GDP) equals
A. the price level times the income velocity of money. B. the amount of actual money balances divided by the income velocity of money. C. the amount of actual money balances times the income velocity of money. D. the price level divided by the income velocity of money.
According to the Bureau of Labor Statistics, if you voluntarily leave your job to search for another job, then you
A) are eligible for unemployment compensation. B) are classified as a job loser. C) are classified as unemployed. D) may not re-enter the labor force for six months.
Wichita is building a convention center and financing it with revenues raised from a city hotel tax. Local politicians assert that the convention center is essentially free for Wichita residents because out-of-town visitors are paying for it
Someone who is practicing the economic way of thinking would disagree because A) the hotel tax may lead to a decline in visits to Wichita. B) they believe that Wichita does not need a new convention center. C) the hotel tax may reduce commercial property values in the area. D) there are other projects that could be undertaken with the tax funds. E) the convention center may not pass a marginal cost-benefit test.