The general public has strong incentives to be informed about regulations that impact them
a. True b. False
b
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Why doesn’t a competitive firm reduce its price below the industry price to increase sales?
What will be an ideal response?
Between 1870 and 1913, labor migration from the "Old World" (Europe) to the "New World" (the United States, Canada, and Australia):
a. decreased the rate of growth of real wages in the New World and increased the rate of growth of real wages in the Old World. b. increased the rate of growth of real wages in the New World and decreased the rate of growth of real wages in the Old World. c. decreased the rate of growth of real wages in both the New and Old Worlds. d. increased the rate of growth of real wages in both the New and Old Worlds.
A country's production possibilities will grow if it
a. produces more guns than butter. b. lowers its opportunity costs. c. makes more trade-offs. d. increases its resources.
Use supply and demand analysis to explain what is most likely to happen to the price and quantity of corn when there is an increase in the demand for ethanol, which is produced using corn. What other effects would such a change in the corn market have
on the price of beef, the price of farmland, and the price of corn syrup? Please provide the best answer for the statement.