Other things being equal, a decreased supply of natural resources would be represented on a production possibilities curve by a(n):
a. movement off the curve to a point inside the curve.
b. movement down along the curve.
c. movement up along the curve.
d. inward shift of the entire curve.
d
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Which of the following would tend to decrease velocity?
a. an increase in interest rates b. more frequent paychecks c. expected decreases in inflation d. more efficient payment systems
A year-long drought that destroys most of the summer's crops would be considered a:
A. short-run supply shock. B. long-run demand shock. C. long-run supply shock. D. short-run demand shock.
Why do you never see firms in a perfectly competitive market advertise their product?
What will be an ideal response?
Which of the following is NOT a way to signal high quality
a. wearing a business suit on a job interview b. leaving a big tip for the waiter after a dinner date c. offering a cheap engagement ring to your bride d. Visiting the beauty salon before a big date