Which diagram below illustrates the effect on the natural-gas market, with the widespread use of "fracking" or hydraulic fracturing by gas-drilling companies?
In the diagrams below, the subscript "1" refers to the initial position of the curve, while the subscript "2" refers to the final position after the curve shifts.
A. A
B. B
C. C
D. D
C. C
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When the automobile replaced horse-drawn carriages as the principal means of transportation, firms producing horse-drawn carriages went bankrupt and permanently laid off all their workers, thereby increasing i. seasonal unemployment. ii
structural unemployment. iii. cyclical unemployment. A) i only B) ii only C) i and iii D) i and ii E) ii and iii
With a technological change that increases productivity, the average product curve ________ and the marginal product curve ________
A) shifts upward; is unchanged B) is unchanged; is unchanged C) is unchanged; shifts upward D) shifts upward; shifts upward
The utility function captures
A) how consumers interact. B) how an individual consumer ranks consumption bundles. C) how output is produced from labor and capital inputs. D) how happy a consumer is about a given consumption bundle.
Assume that the expectation of declining housing prices cause households to reduce their demand for new houses and the financing that accompanies it. If the nation has low mobility international capital markets and a flexible exchange rate system, what happens to the quantity of real loanable funds per time period and the nominal value of the domestic currency in the context of the
Three-Sector-Model? a. The GDP Price Index rises, and nominal value of the domestic currency falls. b. The GDP Price Index falls, and nominal value of the domestic currency rises. c. The GDP Price Index rises, and nominal value of the domestic currency remains the same. d. The GDP Price Index falls, and nominal value of the domestic currency falls. e. There is not enough information to determine what happens to these two macroeconomic variables.