Consider the demand curves for soft drinks shown in the figure above. Suppose the economy is at point a. Which of the following could result in a movement to point c?
A) a decrease in income
B) an increase in the relative price of a soft drink
C) a decrease in the relative price of a soft drink
D) a decrease in the price of bottled water
C
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Comparative advantage is the ability of a country to produce a good at a ________ opportunity cost relative to other countries
a. higher b. lower c. equivalent d. none of the above
When the rate of interest rises, the resulting change in the demand for capital is shown graphically by:
a. a movement down along the demand curve. b. a rightward shift of the demand curve. c. a leftward shift of the demand curve. d. a movement up along the demand curve. e. an outward rotation of the demand curve.
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.
Business managers are people who:
A. entertain the workers. B. own the physical capital used in production. C. run businesses on a day-to-day basis. D. engage exclusively in business travel.