Which of the following is the best example of a one-way network?
A. Network using optical fibers carrying signals to and from a subscriber's location
B. The network of towers that connect cellular telephone users
C. The network that connects instant message users
D. The electricity that flows into residential areas
Answer: D
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Refer to the above figure. Suppose the original long-run equilibrium was at point B. What could have caused the move to the current equilibrium?
A) Aggregate demand must have decreased. B) Input prices must have increased, causing long-run aggregate supply to increase. C) Decreases in the price level caused short-run aggregate supply to fall. D) A temporary reduction in production due to bad weather.
Describe the relationship between investment and the level of disposable income
Suppose Lando Calrissian owns a smuggling business whose total revenue is $30,000 per month. The accompanying table shows Lando's monthly expenses. If Lando weren't a smuggler, he would earn $6,000 per month working for the Rebel Alliance. Apart from pay, Lando is indifferent between working as a smuggler and working for the Rebel Alliance.Fuel$4,000Maintenance$12,000Weapons$6,000Bribes$3,000 In the long run, we would expect Lando to:
A. continue smuggling since his economic profit from smuggling is positive. B. join the Rebel Alliance since his economic profit from smuggling is negative. C. continue smuggling since his accounting profit from smuggling is positive. D. join the Rebel Alliance since his accounting profit from smuggling is negative.
Labor unions
a. raise wages in unionized industries. b. create labor shortages in non-unionized industries. c. play a larger role in the current U.S. economy than in European countries such as Norway and Sweden. d. prefer to operate in states with right-to-work laws.