If the price of inputs decreases, the
A. demand curve will shift to the left.
B. demand curve will shift to the right.
C. supply curve will shift to the right.
D. supply curve will shift to the left.
Answer: C
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The graph shows the market for ski chalets in Aspen. If a rent ceiling is set at $1,900 a week, then the maximum amount charged in the black market is ________ a week
A) $1,900 B) $2,050 C) $2,125 D) $225 E) $150
Who said this? ". . . the sovereign has only three duties to attend to. . . . first, the duty of protecting the society from violence and invasion . . .; secondly, the duty of protecting . . . every member of the society from the injustice or oppression of every other member of it all; and thirdly, the duty of erecting and maintaining certain public works and public institutions, which it can never be for the interest of any individual . . . to erect and maintain. . . "
A. Adam Smith B. John Stuart Mill C. Sir William Petty D. Franklin Roosevelt
What branch of economics is concerned with effects of nutrition labeling on the dietary quality of consumers (i.e., what-if types of questions)?
A) Positive economics B) Macroeconomics C) Normative economics D) Microeconomics
A researcher finds that for an economy, the nominal GDP in the year 2012 equals the nominal GDP in the year 2013. He also finds that the output of the economy has been the same over the two years. A situation like this is possible only if:
A) the annual inflation rate in the economy is negative. B) the annual interest rate in the economy is negative. C) the annual interest rate in the economy is zero percent. D) the annual inflation rate in the economy is zero percent.