Suppose that jeans that were fashionable in the 1990s become unfashionable today. If other factors were held constant, then there would be in the market of jeans
A. a leftward shift in the demand curve.
B. a rightward shift of the demand curve.
C. a leftward movement along the supply curve.
D. a rightward movement along the supply curve.
Answer: A
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Refer to Table 7-6. Prior to trade, what was the opportunity cost to produce 1 belt in Estonia?
A) 1/3 of a sword B) 3/5 of a sword C) 1.67 swords D) 5 swords
When solving collective action problems, a major barrier is the free rider problem, which occurs when actors
a. reap the benefits without contributing any effort. b. harvest the resources of other nations. c. increase their consumption in a sudden and dramatic way. d. are forced to live with control and domination.
If the price of airline travel in Europe falls and the demand for train travel in Europe also falls, then the two goods are
A) complements. B) normal goods. C) substitutes. D) inferior goods.
Martha did not like her job as a receptionist, so she quit and is looking for one that better suits her artistic talents. Ting Pei would like to work, but employers are not willing to hire him because he does not speak English. Martha is ________ unemployed and Ting Pei is ________ unemployed.
A. frictionally; structurally B. structurally; cyclically C. structurally; frictionally D. cyclically; structurally