Suppose the price of skateboards were to fall. Other things constant, what is the least likely to occur?
A) More skateboards will be purchased.
B) The demand for skateboards will increase.
C) More helmets will be purchased.
D) The demand for helmets will increase.
B
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A firm engaging in efficient production, using current technology, ________ produce its current level of production with ________ inputs
A) could; fewer B) cannot; fewer C) cannot, more D) cannot; different
Some nations avoid the effects of trade deflection in a trade bloc by enforcing
A) trade deflection. B) trade diversion. C) quotas. D) rules of origin.
Which of the following is an example of an injection into the circular flow of income and expenditure?
a. Net taxes b. Saving c. Transfer payments d. Government borrowing e. Disposable income
Transfer payments:
A. are payments from government accounts to individuals for programs that do not involve a purchase of goods or services. B. involve programs such as Social Security and welfare. C. do not show up in GDP. D. All of these are true.