To obtain the market demand curve for a product, sum the individual demand curves
a. vertically.
b. diagonally.
c. horizontally.
d. and then average them.
c
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The proliferation of the horse in the 17th century caused Great Plains Indians to:
a. increase their reliance on agricultural work. b. engage in less tribal warfare. c. use smaller and more independent hunting groups. d. kill fewer bison, but make more intensive use of the meat on the carcass.
Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the short run would be:
A. P1 and Y2. B. P3 and Y1. C. P2 and Y2. D. P2 and Y3.
Textile workers in the U.S. complain that they cannot compete with low cost foreign textile producers. While some U.S. textile workers may lose their jobs, an advantage is
a. the U.S. gets cheaper textiles b. U.S. imports will become more expensive so U.S. domestic producers gain c. workers in other countries will buy more U.S. clothing exports d. the U.S. can retaliate and its exporting strength is greater e. the U.S. can dump its textiles on other markets without fearing retaliation because U.S. textiles are made with high cost labor
Proprietary technology is technology
a. that the government prohibits firms from using. b. conserves natural resources. c. that is useful while other types of technology are outdated. d. that is known or controlled only by the company that discovered it.