An increase in the price of the cheese used to produce pizza shifts the supply curve of pizza ________ and shifts the demand curve for pizza ________
A) rightward; leftward
B) leftward; leftward
C) leftward; not at all
D) not at all; leftward
C
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The value of a model is determined by
A) the usefulness of its predictions in the real world. B) the extent of the profit earned by applying it. C) the realism of its assumptions. D) the model's attention to real world details.
The two main categories of U.S. exports are
a. transportation goods and fuel b. steel and fuel c. capital goods and industrial supplies and materials d. fuels and agricultural goods e. agricultural and transportation goods
Featherbedding refers to the practice of: a. disallowing members from joining labor unions
b. hiring lesser number of laborers than what is required. c. terminating employment without notice. d. hiring more laborers than what is necessary.
Which of the following is not an example of a group responding to an incentive?
a. Students attend class because of an attendance policy that reduces their grade for absences. b. Consumers buy more of a product when it is on sale at a reduced price. c. Universities offer fewer online classes when they generate more revenue than traditional classes. d. Employees work harder to earn higher commissions.