If we wanted to analyze the effects of a $2 unit tax graphically, we would shift the
A. demand curve downward by $2.
B. demand curve upward by $2.
C. supply curve upward by $2.
D. supply curve downward by $2.
Answer: C
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The machines workers have to work with are considered
A) entrepreneurship. B) financial capital. C) human capital. D) physical capital.
Based on Table 9.1, if the information in the table is typical of current and financial account values over a long period, then it would be reasonable to infer that
A) the net international investment position is negative. B) the net international investment position is positive. C) national savings are less than domestic investment. D) government accounts are in deficit. E) the current account balance is greater than domestic investment.
Which of the following best explains why garbage collectors are paid a higher wage than many others with comparable skills?
a. because of the dangers associated with collecting trash b. because garbage collectors work much longer hours on average than do those in other jobs c. because of the unpleasantness associated with trash collection d. because garbage collectors possess skills that are in relatively high demand
Suppose that in the clothing market, production costs have fallen, but the equilibrium price and quantity purchased have both increased. Based on this information we can conclude that:
A. the supply of clothing has grown faster than the demand for clothing. B. demand for clothing has grown faster than the supply of clothing. C. the supply of and demand for clothing have grown by the same proportion. D. there is no way to determine what has happened to supply and demand with this information.