When inflation turns out to be different from what was expected, purchasing power is ________.
A. decreased
B. redistributed
C. destroyed
D. increased
Answer: B
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Property owned by governments is called:
A. Private property B. Shared property C. Public property D. Common property
Which of the following shifts the supply curve of popcorn leftward?
A) a decrease in the price of popcorn B) an increase in the price of popcorn C) a technological development in the production of popcorn D) a decrease in the number of popcorn suppliers E) a decrease in the cost of producing popcorn
Suppose an economy only produces two goods, robots and ice cream. Last month, the economy produced 10 robots and 200 gallons of ice cream. This month, the same economy produced 15 robots and 240 gallons of ice cream. Which of the following statements could explain this change?
a. This month, the economy reduced the unemployment of its resources. b. This month, the economy experienced an improvement in technology. c. This month, the economy experienced an increase in resources d. All of the above are correct.
In a perfectly competitive market, how do the number and size of suppliers relate to the ability to enter and exit into markets?
What will be an ideal response?