If a firm has an incentive to increase supply now and decrease supply in the future, then the firm expects that the
A) price of its product will be lower in the future than it is today.
B) price of its product will be higher in the future than it is today.
C) price of inputs will be lower in the future than they are today.
D) demand for the product will be lower in the future than it is today.
Answer: A
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When researchers use the damage function method, they
a. model the relationship between the cost of the policy and the associated reduction in environmental damages b. can directly measure the reduction in environmental damage in monetary units c. measure the link between a policy-induced decrease in contamination and the associated reduction in environmental damage d. can measure all aspects of incremental benefits at once
Which of the following does NOT explain why there are so many disagreements among economists?
A. In some cases, the controversy is aggravated by political agendas. B. In some cases, individuals may stand to gain from policy changes. C. In some cases, economists have simply not investigated the issue at hand. D. In some cases, there aren't enough data to answer the question.
Cigarettes served as money in some prisoner of war (POW) camps during World War II. Given this, we would expect to observe
A. only government-issued cigarettes being accepted as money. B. people usually resorting to barter rather than using cigarettes as money. C. prices of other goods expressed in terms of cigarettes. D. no one ever smoking a cigarette.
The 1935 Act granting workers the right to form unions and bargain collectively is known as
A) the National Labor Relations Act or Wagner Act. B) the Wheeler Act. C) the Taft-Hartley Act. D) the Modernization Act.