Which of the following will shift the supply curve for laptop computers to the left?
A) development of a cheaper microchip used in laptop computer production
B) a subsidy to the laptop computer industry
C) expectations of a future decline in laptop computer prices
D) a reduction of the number of firms that make laptop computers
Answer: D
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A rent ceiling creates a shortage. As a result, which of the following occurs?
A) only a loss of consumer surplus for tenants B) only a loss of producer surplus for landlords C) a loss of both consumer and producer surplus D) a gain of both consumer and producer surplus
Economic mobility in the United States is
a. uncommon. Over 50 percent of poor families remain poor for 8 or more years. b. uncommon. Over 75 percent of poor families remain poor for 8 or more years. c. common. Fewer than 3 percent of poor families remain poor for 8 or more years. d. common. Fewer than 1 percent of poor families remain poor for 8 or more years.
Unlike sole proprietorship and partnerships, the corporation has a life independent of its owners and officers.
Answer the following statement true (T) or false (F)
Which of the following is a negative effect of economic growth?
A. higher inflation B. environmental pollution C. higher unemployment D. all of these