In reference to industrial policy, networks of interdependent firms, universities, and businesses that focus on production of a specific type of good are called:
A. bundles.
B. clusters.
C. vertical industries.
D. integrated industries.
B. clusters.
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In a barter system individuals
A) find it impossible to specialize. B) must be entirely self-sufficient. C) find it difficult to specialize, but may be able to do so. D) will almost invariably specialize.
Other things being equal, the effects of an increase in the price of orange juice would best be represented by a(n):
a. upward movement along the demand curve for orange juice. b. leftward shift in the demand curve for orange juice. c. downward movement along the demand curve for orange juice. d. rightward shift in the demand curve for orange juice.
If the price of a certain brand of sneakers falls from $27.50 to $22.50, and the quantity demanded by consumers increases from 15 to 25 pairs per week, then the price elasticity of demand is
a. 0.25 b. 1.00 c. 2.75 d. 1.50 e. 2.50
When the Fed increases the money supply, we expect
a. interest rates and stock prices to rise. b. interest rates and stock prices to fall. c. interest rates to rise and stock prices to fall. d. interest rates to fall and stock prices to rise.