If the number of wine producers decreases:
A. the demand for wine increases.
B. the demand for wine decreases.
C. the supply of wine increases.
D. the supply of wine decreases.
Answer: D
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The above table contains information about the nation of Syldavia. There are no income taxes or imports in this nation. The equilibrium expenditure is
A) $25 billion. B) $10 billion. C) $15 billion. D) $20 billion. E) $30 billion.
If a perfectly competitive firm made an economic profit in the short run, but not in the long run, it must be true that
a. prices for inputs increased b. demand declined c. new firms entered, supply increased, and price fell d. accounting profit exceeds economic profit e. labor costs are increasing
Suppose that some country had an adult population of about 50 million, a labor-force participation rate of 60 percent, and an unemployment rate of 5 percent. How many people were unemployed?
a. 1.425 million b. 1.5 million c. 2.5 million d. 5 million
Foreign direct investment generally leads to technological advancements in poorer countries.
Answer the following statement true (T) or false (F)