If the demand curve for a good shifts leftward,
A) quantity demanded is less at each price.
B) quantity demanded remains constant at each price.
C) quantity demanded is greater at each price.
D) demand is greater at each price.
A
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The establishment of well-defined property rights increases:
A. the unemployment rate. B. the amount of pollution. C. average labor productivity. D. the labor force participation rate.
Given the information in the table above, Foreign's opportunity cost of widgets is
A) 0.5. B) 2.0. C) 6.0. D) 1.5. E) 3.0.
The existence of a positive externality demonstrates that
a. prices are too low b. there are third party costs c. the source is costly to identify d. the value society derives from a good may be greater than the value the person who buys it receives e. benefits are included in price, but not quantity
In the horizontal range of the AS curve,
A. the price level is constant. B. the classical model assumptions apply. C. national income is supply-determined. D. full employment exists.