Which of the following is a determinant of supply?
A) tastes and preferences of consumers
B) technology
C) consumer income
D) number of consumers
Answer: B
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Any output combination outside a production possibilities frontier is associated with unused or
underutilized resources. Indicate whether the statement is true or false
The IS curve
A) is horizontal. B) is vertical. C) slopes downward. D) slopes upward.
There are no arguments in favor of inheritance taxation on efficiency grounds, only on equity grounds
a. True b. False
Although price searchers can set their prices, the prices they can set are still affected by market conditions.
1. True or False: Although price searchers can set their prices, the prices they can set are still affected by market conditions.
2.Suppose firms in a competitive price-searcher market with low barriers to entry are earning an economic profit.
Firms will (exit /enter) this market until economic profits are (positive/ negative/zero).