Which of the following is likely to result in a lower equilibrium price?
a. An increase in both demand and supply
b. A decrease in both demand and supply.
c. An increase in demand and a decrease in supply.
d. A decrease in demand and an increase in supply.
d
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A peak in the business cycle
A. is a temporary maximum point. B. is a temporary minimum point. C. occurs when the inflation rate is its lowest. D. occurs when the unemployment rate is its greatest.
A discouraged worker is one who: a. is underqualified for his current job
b. dislikes his current job but is afraid to quit. c. drops out of the labor force because he cannot find a job. d. quits his job because the possibility of advancement was very low. e. is overqualified for his current job.
As long as as a monopolist is able to control the resale of its product, then it can successfully practice price discrimination
a. True b. False Indicate whether the statement is true or false
A quota is
A. a tariff based on the value of the imported good. B. a tariff imposed on goods that are subsidized by their domestic governments and exported to other countries. C. a government-imposed restriction on the quantity of a specific good that can be imported into a country. D. a tariff imposed on goods that are dumped into the home country.