Suppose the supply of textbooks is upward sloping and shifts leftward due to higher ink and paper costs. Which of the following events would leave the equilibrium price of textbooks at the same level observed before the supply shift?
A) Demand is perfectly elastic (horizontal).
B) Demand is downward sloping and shifts leftward.
C) all of the above
D) none of the above
C
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The growth of GDP may understate changes in the economy's economic well-being over time if the ________.
A. amount of leisure decreases B. quality of products and services improves C. environment deteriorates because of pollution D. distribution of income becomes increasingly unequal
While Africa has the largest numbers of working children, Asia has the highest proportion of working children, with an estimated one in four employed
Indicate whether the statement is true or false
Foreign investment can be economically beneficial for all of the following reasons except:
A. increases the GDP of the host country by giving it access to additional resources. B. increases the GDP of the investing country by providing it with ways to earn higher returns on its capital. C. makes the world a more efficient place by moving capital from places with low returns to places with high returns. D. it always leads to a higher interest rate.
Which of the following is not a provision of the Taft-Hartley Act?
a. outlaws the closed shop b. prohibits union unfair labor practices c. requires unions to bargain in good faith d. outlaws striking in support of another union's strike e. creates the National Labor Relations Board