In one northern town, the snowmobilers enjoy snow while non-snowmobilers hate it. When the town gets two feet of fresh snow, which group is made wealthier?
A) Non-snowmobilers
B) Snowmobilers
C) Everybody
D) Nobody
B
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The rate at which prices in general are increasing is called:
A. the unemployment rate. B. the inflation rate. C. the trade balance. D. the standard of living.
Because we face scarcity, every choice involves
A) money. B) the question "what." C) giving up something for nothing. D) an opportunity cost.
The equilibrium quantity of labor decreases and the equilibrium wage increases when:
a. labor supply shifts to the left, if wages are flexible. b. labor demand shifts to the left, if wages are flexible. c. labor demand shifts to the right, if wages are flexible. d. labor supply shifts to the right, if wages are flexible.
Technological innovation in the production of computers has led to
A) a decrease in the quantity demanded for computers. B) a rightward shift of the supply curve for computers. C) a decrease in the quantity supplied of computers. D) None of the above.