Which of the following is most likely to shift the demand curve for electricity to the left?
A. consumers becoming more energy conscious.
B. an increase in income.
C. a decrease in the price of electricity.
D. an increase in the price of natural gas, a substitute source of energy.
Answer: A
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Refer to Table 9-14. The percentage change in real average earnings from 1965 to 2010 equals
A) 2.0 percent. B) 19.7 percent. C) 24.6 percent. D) 80.3 percent.
As long as average revenue remains above average total cost:
A. the firm will be making profits. B. price will be greater than average total cost. C. total revenue will be higher than total cost. D. All of these are true.
When economists are trying to explain the world, they are scientists, and when they are trying to help improve the world, they are policy advisers
a. True b. False Indicate whether the statement is true or false
Refer to Table 22-7. Consider the statistics in the table above in describing the following industrialized and developing countries. Are these consistent with the economic growth model? Briefly explain
What will be an ideal response?