The statement that a monopoly raises the price of its product is an example of positive economics
Indicate whether the statement is true or false
T
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Which of the following would cause the demand curve for rice to shift to the left?
a. A rise in the price of rice. b. A blight that destroyed 75% of the rice harvest. c. A report claiming that the starch in rice causes heart disease. d. A tariff that doubles the price of imported spaghetti.
Which of the following countries has the most equal income distribution?
a. Sweden b. Japan c. United States d. Netherlands
Most economists feel that overly strict financial regulation from 2000 to 2006 contributed to the financial crisis of 2007-2009
a. True b. False Indicate whether the statement is true or false
For a competitive, profit-maximizing firm, the demand curve for labor will shift in response to a change in the
a. wage rate. b. quantity of labor demanded. c. price of the product that the firm sells. d. an increase in the supply of labor.