A leftward shift in the demand curve is called:
a. a decrease in demand.
b. an increase in demand.
c. a decrease in output.
d. an increase in income.
a
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Compensation paid to employees represented ________ of GDP for the United States in 2014
A) about 5 percent B) approximately 15 percent C) 35 percent D) more than 50 percent
Which statement about oligopolies is true?
A. Most oligopolies in the U.S. engage in outright collusion. B. Most oligopolies operate at the minimum point of their ATC curves. C. Most of our GDP is produced by oligopolies. D. Collusion is illegal in the U.S. and does not exist.
If the U.S. government increases its expenditures (without any changes in taxes) while the Federal Reserve Bank decreases the money supply:
A. the AD curve would likely shift to the right. B. the AD curve would likely remain unchanged. C. the AD curve would likely shift to the left. D. what happens to the AD curve is unclear.
The Environment Ministry in Japan proposed a new carbon tax to meet Japan's obligations to reduce carbon dioxide emissions under the Kyoto Treaty. The tax would be levied on producers and importers of fossil fuels, and the expectation is that it would be largely passed on to consumers. The rationale for this tax is that it will:
A. reduce a negative externality. B. turn a private good into a public good. C. turn a public good into a private good. D. reduce a positive externality.