An example of an intermediate good would be:
A. the rice used to make Chex cereal.
B. a bag of Uncle Ben's rice sold to consumers.
C. a bag of Quaker's rice cakes sold to consumers.
D. All of these are intermediate goods
A. the rice used to make Chex cereal.
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A production possibilities frontier with a ________ shape indicates increasing opportunity costs as more and more of one good is produced
A) linear B) bowed outward C) bowed inward D) perfectly horizontal
When Congress does not pass the necessary budget resolutions by the time the new fiscal year starts, they need to pass a ______ in order to keep agencies operating
a. budgetary extension b. continuing resolution c. continuing extension d. emergency budgetary declaration
A person who has lost his or her job because it is now performed by a robot is structurally unemployed
a. True b. False Indicate whether the statement is true or false
If products C and D are close substitutes, an increase in the price of C will:
A. tend to cause the price of D to fall. B. shift the demand curve of C to the left and the demand curve of D to the right. C. shift the demand curve of D to the right. D. shift the demand curves of both products to the right.