If output decreases, which of the following would occur?
a. Prices of non-labor inputs, input requirements per unit of output and unit costs would all increase and the economy would move upward along the aggregate supply curve.
b. Prices of non-labor inputs, input requirements per unit of output and unit costs would all decrease and the economy would move upward along the aggregate supply curve.
c. Prices of non-labor inputs, input requirements per unit of output and unit costs would all increase and the economy would move downward along the aggregate supply curve.
d. Prices of non-labor inputs, input requirements per unit of output and unit costs would all decrease and the economy would move downward along the aggregate supply curve.
e. Prices of non-labor inputs would decrease, input requirements per unit of output would increase and the economy would move upward along the aggregate supply curve.
D
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The figure above shows the market for annual influenza immunizations the United States. If the government intervenes in the market and provides a $10 subsidy to providers of immunizations, the number of people immunized is ________
A) 20 million per year. B) exactly 10 million per year. C) between 15 and 20 million per year. D) less than 10 million per year. E) more than 10 million and less than 15 million.
Which of the following is NOT an example of a backup line of credit?
A) loan commitments B) overdraft privileges C) standby letters of credit D) mortgages
Explain why an increase in the tax rate can result in lower tax revenues
What will be an ideal response?
An oligopoly with a dominant price leader will produce a level of output below that which would prevail under ________ and above that which a ________ would choose in the same industry.
A. cartel; competitive industry B. competition; monopolist C. monopoly; cartel D. monopoly; competitive industry