Which of the following is the best description of the effects of an increase in the supply of bread?
a. Consumers will pay more for bread.
b. Bread prices will fall, and bread sales will rise.
c. A permanent surplus of bread will remain on the market.
d. Bakers will have higher marginal costs.
b
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Obstacles in achieving efficiency in a market include
A) public goods. B) the presence of an external cost or benefit. C) competition. D) Both answers A and C are correct. E) Both answers A and B are correct.
Taiwan and South Korea are examples of developing nations that have recently pursued these industrialization policies
A) import substitution. B) export promotion. C) commercial dumping. D) multilateral contract. E) trade embargoes.
The Navigation Acts (1651 and later amendments) were intended to promote shipping and international commerce
Indicate whether the statement is true or false
Which of the following groups of people are members of the labor force?
a. People in prison. b. Full-time students. c. People over 16 years of age who are employed. d. Anyone not actively looking for work during the past 30 days.