Copper falls into which factor of production category?
A) land
B) labor
C) capital
D) entrepreneurship
A
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Which of the following is likely to shift the credit demand curve of an automobile manufacturer to the right, assuming all else equal?
A) An increase in the real interest rate B) A plan to increase production and expand to newer markets C) A plan to decrease production and exit from existing markets D) A decrease in the real interest rate
A surplus occurs when the market price is lower than the equilibrium price
Indicate whether the statement is true or false
The fact that 80% of the assets accumulated during a lifetime are bequeathed to heirs in the United States suggests that
A) the appropriate time horizon for consumption theory is the lifetime of the earner. B) the appropriate time horizon for consumption theory is intergenerational. C) the Barro-Ricardo equivalence theorem is correct. D) it is true that higher taxes increase savings.
A popular dinner among college students today is sushi, green tea, and wasabi dip so these foods are complements. If the price of green tea increases and the price of wasabi dip increases, what would be the effect on demand for sushi at lunch?
A) The demand for sushi would decrease. B) The demand for sushi would increase. C) The demand for sushi would be unaffected, but the price would increase. D) The demand for sushi would be unaffected, but the price would decrease. E) The demand for sushi could increase or decrease.