When firms use resources in an attempt to secure and maintain grants of market protection from the government, it is called
a. rent-seeking.
b. collusion.
c. franchising.
d. resource investment.
A
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An increase in the level of U.S. exports ________ the demand for goods and service produced in the United States
A) increases B) does not affect C) decreases D) increases or decreases
Keri decided to sleep in today rather than attend her 9 a.m. economics class. According to economic analysis, her choice was
What will be an ideal response?
Ceteris paribus, according to the law of supply, if the price of lawn mowing decreases from $50 per lawn to $45 per lawn, then the:
A.) Quantity supplied of lawn mowing will decrease. B.) Supply curve for lawn mowing will shift to the right. C.) Quantity supplied of lawn mowing will increase. D.) Quantity supplied of lawn mowing will stay the same.
If the price of oil rises, producers of oil will
A. increase the quantity of oil supplied. B. supply less oil. C. cut the price. D. leave the amount of oil supplied unchanged.