When the amount supplied is greater at each price, there is a(n)
A) rightward shift in the supply curve.
B) leftward shift in the supply curve.
C) upward movement along the supply curve.
D) downward movement along the supply curve.
Answer: A
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The general equilibrium analysis of a minimum wage applied to only some sectors of the economy suggests that
A) workers in all sectors will face increased wages. B) some workers in the covered sectors will lose their jobs and remain unemployed. C) some workers originally employed in the covered sectors will move to the uncovered sectors, driving down wages in the uncovered sectors. D) all workers will be worse off.
What is the main reason for anti-trust laws?
a. To keep prices low b. To ensure firms do not become too big c. To ensure active competition d. To prevent mergers
In the United States in 2011, the bottom fifth of the income distribution had incomes below $27,218
a. True b. False Indicate whether the statement is true or false
From the perspective of an externality, most communities have zoning laws to:
A. raise government revenues. B. control external benefits. C. control external costs. D. encourage positive externalities.