In a market system, resources will move away from an industry when
What will be an ideal response?
demand for the industry's product is decreasing.
You might also like to view...
An economy with an expansionary gap will, in the absence of stabilization policy, eventually experience a(n) ________ in the inflation rate, leading to a(n) ________ in output.
A. decrease; increase B. increase; increase C. decrease; decrease D. increase; decrease
Refer to Figure 2-2. What is the opportunity cost of one dozen orchids?
A) 0.4 dozen roses B) 2.5 dozen roses C) 7.25 dozen roses D) 16 dozen roses
Total costs:
A. are fixed costs plus variable costs. B. include explicit and implicit costs. C. increases as the firm increases output. D. All of these are true.
The 45-degree line, measuring Y = C + S, is also called the
a. saving line b. consumption curve c. income line d. investment curve e. GDP curve