Which of the following is likely to cause the supply curve for steel window frames to shift to the right?
A) A decrease in the cost of production of steel due to a new subsidy
B) A fall in the number of steel window frame producers due to factory lockouts
C) A rise in the market price of steel window frames due to an increase in demand
D) An increase in the wages of labor working in steel firms due to demands by trade unions
A
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For a given supply elasticity, the more inelastic the demand for a good, the larger the share of the tax paid by the
A) buyers. B) sellers. C) participants other than the buyers and sellers. D) government. E) None of the above answers is correct.
Which of the following have a positive relationship with household saving?
I. the real interest rate II. disposable income III. expected future income A) I and II B) II only C) II and III D) I, II and III
Which statement is false?
A. saving plus consumption = disposable income. B. when C = disposable income, saving = zero. C. when consumption is larger than disposable income, saving is negative. D. Each statement is true.
Market failure can result from all of the following except
A. Regulation. B. Market power. C. Monopoly. D. Restricted output.