Assume that Ford Motor Company engineers achieve a revolutionary technological breakthrough in the production process of automobiles. Which of the following is expected to take place?
a. A movement up along the existing supply curve for Ford automobiles
b. The supply of Ford automobiles will remain unchanged
c. An inward shift of the supply curve for Ford automobiles
d. A downward movement along an existing supply curve for Ford automobiles
e. An outward shift of the supply curve for Ford automobiles
e
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The quantity demanded of a good or service is the amount that
A) a consumer would like to buy but might not be able to afford. B) is actually bought during a given time period at a given price. C) consumers plan to buy during a given time period at a given price. D) firms are willing to sell during a given time period at a given price.
Protecting infant industries from foreign competition may make sense, but only until the industry matures
a. True b. False Indicate whether the statement is true or false
At what stage of the securitization process was moral hazard a major problem?
a. Securitization. b. Rating securitized issues. c. Insuring securitized issues d. All of the above
The time and resources required to administer the current tax system create ______.
a. a high level of efficiency b. a deadweight loss c. an efficient equilibrium d. an economic recession