According to the graph shown, if this economy were an autarky, producers would enjoy area:
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
A. BCEFG
B. BCDEFG
C. G
D. EFG
D. EFG
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Which of the following is likely to lead to a left shift in the demand curve for labor in the printing ink manufacturing industry?
A) A decrease in the price of printers B) An increase in the demand for printers C) An increase in the price of printing ink D) A decrease in the demand for printing paper
Adam Smith believed that people's pursuit of their own self-interests
a. tended to promote the general welfare b. required the government's "invisible hand" to keep the economy running smoothly c. might cause aggregate demand to be greater than aggregate supply d. would increase the wealth of a nation, which was the quantity of gold and silver it owned e. would decrease the wealth of a nation, which was its ability to produce goods and services
The substitution bias in the consumer price index refers to the
a. substitution by consumers toward new goods and away from old goods. b. substitution by consumers toward a smaller number of high-quality goods and away from a larger number of low-quality goods. c. substitution by consumers toward goods that have become relatively less expensive and away from goods that have become relatively more expensive. d. substitution of new prices for old prices in the CPI basket of goods and services from one year to the next.
Gross investment minus depreciation is equal to:
A. gross domestic product. B. net investment. C. personal investment. D. nominal investment.