A decrease in the price of a commodity results in a(n)
a. decrease in supply
b. decrease in quantity demanded
c. increase in demand
d. decrease in quantity supplied
e. increase in supply
D
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The schedules in the table give the marginal social benefit and marginal social cost of a DVD. If the number of DVD produced is cut to 2 a week, then the ________
A) minimum supply-price of the second DVD is $18 B) price is $18 a DVD C) opportunity cost of the second DVD is $22 D) value of the second DVD is $20
The natural resources used in production are made available in the
A) government market. B) factor market. C) product market. D) goods and services market.
If a variable moves in the opposite direction from real GDP and other measures of aggregate economic activity, it is a ________ variable
A) procyclical B) countercyclical C) coincidental D) recessionary
It is ____ that in international trade, when one country gains, another loses; it is ___ that to assure prosperity for its citizens, a nation should do all it can to promote exports and keep out imports.
A. true; true B. false; false C. false; true D. true; false