A movement up along a supply curve indicates:
a. a rise in supply.
b. an increase in the quantity supplied.
c. an increase in the sales tax on a good.
d. a reaction by suppliers to a decrease in demand.
b. an increase in the quantity supplied.
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Critics of the U.S. definition of poverty claim it is an inaccurate measure of our poor because:
A. it is a single number that does not capture regional differences in the cost of living. B. the ratio of food to total income is different now than when the definition of poverty was defined. C. it fails to account accurately for expenditures other than food. D. All of these are true.
Because of the owner's prejudice, a firm chooses to discriminate against hiring Oriental workers. Compared to an otherwise identical nondiscriminating firm hiring in the same competitive market, the discriminating firm will have
a. higher costs. b. lower profits. c. a lower quantity of labor supplied at every wage. d. All of the above are correct.
Which of the following is correct?
a. Once adjustment is made for inflation, the prices of most natural resources have been about steady or falling. b. Technological progress has allowed us to substitute renewable resources for some nonrenewable resources. c. Technological progress has made once-crucial natural resources less necessary. d. All of the above are correct.
If long-term investments are increasing,
A. current consumption must be increasing. B. interest rates must be relatively low. C. interest rates must be relatively high. D. the people must be experiencing a “defective telescopic faculty.”