When a price ceiling which had been set below equilibrium price is removed, what happens next?
A. quantity supplied rises.
B. quantity demanded falls.
C. price rises.
D. all of the choices.
D. all of the choices.
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Economists first began studying the relationship between changes in aggregate expenditures and changes in GDP
A) at the end of the Civil War. B) during the Great Depression. C) during the Industrial Revolution. D) in the 1950s.
Industry X comprises only very few large firms engaged in stiff competition with each other. Industry X can best be described as
A) pure competition. B) monopolistic competition. C) pure monopoly. D) oligopoly.
Economic analysis indicates that
What will be an ideal response?
Script Pro produces robots that are sold to retail pharmacies. Among other things the robotsprint and apply the prescription and auxiliary labels and delivers uncapped vials for final inspection using on-screen drug image verification
The manager of the pharmacy is trying to calm his workers' fear that their jobs are in jeopardy if he starts using these robots. What economic explanation could the manager use to assuage the fears of his employees that their jobs are in jeopardy.