Refer to Figure 2-4. A movement from ________ could occur because of an influx of immigrant labor

A) W to X B) X to Y C) X to W D) W to V


B

Economics

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A cost-saving innovation in a perfectly competitive industry will lead to:

A. economic profits for a few firms for a short time. B. economic profits for new firms. C. entry by new firms. D. a leftward shift of the industry supply curve.

Economics

If the quantity of housing demanded ________ the quantity of housing supplied, scarce housing resources are allocated efficiently because the marginal cost of the housing ________ the marginal benefit

A) is more than; equals B) is less than; equals C) equals; is more than D) equals; is less than E) equals; equals

Economics

On a Phillips curve diagram, a decrease in the rate of inflation, other things being equal, is represented by a(n):

a. upward movement along the Phillips curve. b. downward movement along the Phillips curve. c. upward shift of the Phillips curve. d. downward shift of the Phillips curve.

Economics

Suppose the price of eggs decreases from $2 per egg to $1.50 per egg. Due to this decrease in price, the ____ will increase

a. producer surplus b. consumer surplus c. opportunity cost of producing an egg d. social marginal cost

Economics