An increase in consumers' demand for espresso will lead to an increase in ________, while an increase in the number of firms producing espresso will lead to a(n) ________.
A. supply; decrease in supply
B. supply; increase in quantity supplied
C. quantity supplied; decrease in supply
D. quantity supplied; increase in supply
Answer: D
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All of the following are examples of physical capital EXCEPT
A) buildings. B) machinery. C) company stocks and bonds. D) a hydroelectric power plant.
Using Figure 1.6, we know the production of 90 units of soda and 4 units of pizza is 
A. possible, but only if all resources were fully employed. B. impossible because we either do not have the resources or the technology. C. undesirable. D. possible, but there would be unemployed resources.
If a country has a comparative advantage in producing a product, it may or may not have an absolute advantage in producing that product
Indicate whether the statement is true or false
In a labor market diagram, the point at which the labor supply curve crosses the labor demand curve is
a. the point at which all workers are employed at the salary at which they would prefer to be employed b. the point at which all jobs are filled at the wage employers prefer to pay c. the point at which everyone who wants to work is able to find a job d. a point at which we have excess labor supply, causing unemployment e. the point at which excess demand for labor drives the wage rate upward