Refer to Figure 3-5. At a price of $5,
A) there is a scarcity of 4 units. B) there is a surplus of 4 units.
C) there is a shortage of 4 units. D) there is a shortage of 6 units.
C
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With a given level of GDP, a decrease in the size of population would cause:
A) GDP per capita to decrease. B) life expectancy to decrease. C) GDP per capita to increase. D) life expectancy to increase.
The sales of shoes that include shoelaces is a tie-in sale that most likely
A) greatly increases the shoe producer's profit. B) increases transactions costs. C) increases efficiency. D) None of the above.
Unemployment will decrease over time if:
a. actual GDP increases faster than potential GDP. b. actual GDP increases at the same rate as potential GDP. c. acutal GDP remains the same but potential GDP increases. d. actual GDP increases at a less than proportionate rate than potential GDP. e. actual GDP decreases but potential GDP increases.
If a country changes its corporate tax laws so that foreign businesses build and manage more business in that country, then the net capital outflow of that country
a. and the net capital outflow of other countries rise. b. rises and the net capital outflow of other countries fall. c. falls and the net capital outflow of other countries rise. d. None of the above are correct.