When the price of petroleum increases, the supply of Question 21 options:
A. home heating oil increases.
B. petroleum-based plastics increases.
C. petroleum-based plastics decreases.
D. airplane trips increases because of higher fuel costs.
E. hydroelectric power decreases.
B. petroleum-based plastics increases.
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If policymakers set a target for unemployment that is too low because it is less than the natural rate of unemployment, this can set the stage for a higher rate of money growth and
A) cost-push inflation. B) demand-pull inflation. C) cost-pull inflation. D) demand-push inflation.
A good is nonexcludable in consumption if it is not practical to exclude people who don't pay for it from enjoying its benefits.
Answer the following statement true (T) or false (F)
What are the differences between the four market structures in terms of the number of sellers in the market and the types of products produced?
What will be an ideal response?
One difference between moral hazard and adverse selection is
a. Adverse selection has to do with unobservable characteristics of individuals b. Adverse selection has to do with unobservable actions of individuals c. Adverse selection is when individuals most appropriate for positions are most likely to apply for them d. Adverse selection is when you choose the wrong answer on a test