According to the textbook author, who is most likely to do well as a result of the information revolution?
A. Manufacturing workers
B. Authors of textbooks
C. College graduates in general
D. Designers of algorithms
Answer: D
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If exports and imports both fell, but exports fell less than imports, a. AD would decrease
b. AD would increase. c. AD would be unaffected. d. AD could either increase or decrease.
Why are the prices of some regulated industries often higher than they would be if there were no regulation?
If a hurricane were to wipe out the majority of the eastern seaboard in the United States:
A. neither the short-run nor long-run aggregate supply curves would be affected. B. only the long-run aggregate supply curve would shift left. C. only the short-run aggregate supply curve would shift left. D. the long-run and short-run aggregate supply curves would both shift left.
The key issue in determining the relevant product market is
A. the market share test. B. the production processes used to produce the goods. C. the degree of interchangeability between products. D. the specific geographic area in which competing products overlap.