A leftward shift of the demand curve will lead to a(n)
A) decrease in equilibrium price.
B) excess supply at the old equilibrium price.
C) decrease in quantity supplied.
D) All of the above.
D
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Lydia runs a small nail salon in the town of New Hope. She is debating whether she should extend her hours of operation. Lydia figures that her sales revenue will depend on the number of hours the nail salon is open as shown in the table above. She would have to hire a worker for those hours at a wage rate of $10 per hour.
What is Lydia's marginal benefit if she decides to stay open for two hours instead of one hour?
a. $125
b. $75
c. $25
d. $50
Begin with the formula showing how households can divide their income. Then use this formula and the expenditure approach to GDP to show how investment is financed from three sources
What will be an ideal response?
U.S. and Japanese automakers __________ during the automobile VER of the 1980s.
a. both suffered losses b. were locked in a contentious trade war c. both enjoyed higher prices and higher profits d. both felt that the other side had more gains
Economic profit that stems from entrepreneurship reflects
a. market power achieved through the use of public policy that restricts entry into a market. b. the ability of some individuals to recognize and undertake economically beneficial projects that have gone unnoticed by others. c. windfall gains due to unanticipated changes in weather. d. the influence of special interest groups on the market process.