Refer to the below graphs. The formation of an exclusive or craft union, with no change in demand, is depicted by situation:
A. A
B. B
C. C
D. D
B. B
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If firms were forced to take into account the full social costs of production, then
A) output would decrease but pollution levels would probably remain at the same levels. B) output would be unaffected but pollution levels would come down. C) output and pollution levels would decrease. D) output could be increased and pollution levels would decrease.
In 2014, prescription drugs accounted for approximately ________ of total health care spending.
A. 25% B. 50% C. 10% D. 2.5%
Suppose that in 2007, Ford sold 500,000 Mustangs at an average price of $18,800 per car; in 2008, 600,000 Mustangs were sold at an average price of $19,500 per car. These statements:
A. suggest that the demand for Mustangs decreased between 2007 and 2008. B. suggest that the supply of Mustangs must have increased between 2007 and 2008. C. suggest that the demand for Mustangs increased between 2007 and 2008. D. constitute an exception to the law of demand in that they suggest an upsloping demand curve.
Which of the following would be classified as private investment?
a. An individual's purchase of a used car b. A family's purchase of groceries c. An individual's purchase of a General Electric bond d. A family's purchase of a newly built home e. A family's purchase of a new car