A price support may be pictured by
A) shifting the demand curve to the right by the amount of the government purchase.
B) shifting the demand curve to the left by the amount of the government purchase.
C) shifting the supply curve to the right by the amount of the government purchase.
D) shifting the supply curve to the left by the amount of the government purchase.
E) drawing a horizontal line below equilibrium price at the supported price.
A
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Many economists believe that our price indexes ________ the true inflation rate
A) minimize B) overstate C) understate D) perfectly measure
The uncertainty and ambivalence surrounding government policies toward competition stems from
A) conflict between the goals of preserving competition and protecting competitors. B) the influence producers are able to exert on agencies charged with enforcing laws governing business practices. C) uncertainty about the actual effects of various measures intended to promote competition. D) all of the above. E) none of the above but from uncertainty about federal, state, or local jurisdiction.
In a Cournot oligopoly, managers determine quantity ________ collusion and the managers at each firm believe that once their rival managers choose their quantity, they ________ change it.
A) with no; will not B) with; will C) with; will not D) with no; will
Wage rates may vary among labor markets for each of the following reasons, except one. Which is the exception?
a. differences in job risks b. differences in social status associated with the job c. differences in market size d. differences in educational requirements e. differences in job training requirements