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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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.
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