Which of the following best describes what will happen to equilibrium if large numbers of people cancel cable television subscriptions in exchange for subscriptions to on-demand movies and televisions providers like Netflix and Hulu?
a. A change in tastes away from cable television causes a leftward shift in the demand curve, a decrease in the equilibrium quantity, and an increase in the equilibrium price.
b. A change in tastes away from cable television causes a rightward shift in the demand curve, a decrease in the equilibrium quantity, and a decrease in the equilibrium price.
c. A change in tastes away from cable television causes a leftward shift in the demand curve, an increase in the equilibrium quantity, and a decrease in the equilibrium price.
d. A change in tastes away from cable television causes a rightward shift in the demand curve, a decrease in the equilibrium quantity, and a decrease in the equilibrium price.
c. A change in tastes away from cable television causes a leftward shift in the demand curve, an increase in the equilibrium quantity, and a decrease in the equilibrium price.
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________ reflects a use of loanable funds, while ________ reflects a supply of loanable funds
A) The government budget deficit; private saving. B) International borrowing; a government budget deficit. C) International investment; business investment. D) A government budget surplus; a government budget deficit. E) Business investment; the government budget deficit.
The IRS receives approximately
a. 80 percent of the taxes owed b. 50 percent of the taxes owed c. 40 percent of the taxes owed d. 20 percent of the taxes owed e. 10 percent of the taxes owed
A nation's comparative advantage in the production of an item is determined by
A. which country has already specialized in production of the item. B. the total and marginal costs of producing the item. C. the opportunity cost of producing the item relative to a trading partner's opportunity cost of producing the same item. D. specialization in the production of all goods.
________: the consumption bundle that maximizes total utility and is feasible as defined by the budget constraint
Fill in the blank(s) with correct word