If an economist claims there are substitutes for fossil fuels, she is really saying
A) fossil fuels don't have to be economized.
B) fossil fuels aren't scarce goods.
C) fossil fuels aren't important.
D) fossil fuels are used, and maintained, only at a cost.
E) economists don't care for fossil fuels.
D
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Trade restrictions are often motivated by a desire to save domestic jobs threatened by competition from imports. Which of the following counter-arguments is made by economists who oppose trade restrictions?
A) Trade restrictions have a limited impact because most Americans prefer domestic goods over imports. B) Consumers pay a high cost for jobs saved through trade restrictions. C) Trade restrictions benefit consumers in the short run but not in the long run. D) Statistics show that trade restrictions actually do not save jobs.
A typical market supply curve
a. is identical to the firm's marginal cost curve b. does not reflect any external cost borne by third parties c. is identical to the firm's marginal revenue curve d. reflects external benefits enjoyed by third parties e. is perfectly inelastic
Refer to the above diagram, which shows three demand curves for coffee. Which would cause the change in the quantity of coffee demanded illustrated by the shift from point a to point b?
A. A decrease in the price of coffee B. A decrease in the price of sugar C. An increase in consumer incomes D. An increase in the price of tea
Which employer is discriminating based on personal preferences?
a. Jorge, who tries to interview candidates from a variety of backgrounds b. Ryder, who interviews only whites because her last two white hires were very productive c. François, who does not interview women because he does not want to be around them d. Bessie, who does not interview women because the last two she hired were unproductive