How are goods and services produced in the global economy?
A. Developing countries use less human capital but just as much physical capital as advanced economies.
B. Emerging economies use more capital-intensive technology than do developing economies.
C. Human capital in all economies is similar.
D. Advanced economies use less capital than developing economies.
B Developing countries have less capital than emerging econo-mies.
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Suppose a drought resulted in a major reduction in the California lettuce crop. In the market for lettuce,
A) the demand curve shifted to the right resulting in an increase in the equilibrium price. B) the supply curve shifted to the left resulting in a decrease in the equilibrium price. C) the supply curve shifted to the left resulting in an increase in the equilibrium price. D) the demand curve shifted to the left resulting in a decrease in the equilibrium price.
Keri decided to sleep in today rather than attend her 9 a.m. economics class. According to economic analysis, her choice was
What will be an ideal response?
Using fiscal policy, to increase real GDP and employment the government could __________ government expenditure on goods and services or __________ taxes
a) increase; increase b) increase; decrease c) decrease; increase d) decrease; decrease
Select the graph below that best shows the change in the market specified in the following situation: In the market for wheat, when the cost of fertilizer decreases
Assume that the graphs show a competitive market for the product stated in the question.
A. Graph A
B. Graph B
C. Graph C
D. Graph D