Sally's Sandwiches produces sandwiches using one variable input-labor. Sally's Sandwiches is a ________ in the labor market and a ________ in the sandwich market.
A. producer; consumer
B. producer; producer
C. consumer; producer
D. consumer; consumer
Answer: C
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In the final phase of benefit-cost analysis, one of the steps that is generally conducted is
a. to compare time-adjusted benefits to zero b. to compare time-adjusted costs to unity c. to determine if PVB and PVC are inversely related d. to determine if an option is feasible
From the Monetarist perspective, an autonomous downward shift in investment will
A) shift the aggregate demand curve to the left. B) shift the aggregate demand curve to the right. C) have little effect on the aggregate demand curve. D) cause a downward shift in the consumption function.
According to international trade theory, a country can gain if it
a. imports goods when they can be purchased cheaper from domestic producers. b. imports goods when foreigners are willing to pay higher prices than domestic consumers. c. specializes in producing those things it does best (produces at a low cost). d. trades with high-income countries but not low-income countries.
If antitrust legislation is successful, then the monopolistic firm will
A) decrease output and charge a lower price than before. B) increase output and charge a higher price than before. C) increase output and charge a lower price than before. D) decrease output and charge a higher price than before.