A demand curve:
A. has a positive slope.
B. illustrates the negative relationship between price and quantity demanded.
C. illustrates the positive relationship between price and quantity demanded.
D. is based on the assumption of a stable supply curve.
Answer: B
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The number of part-time workers for economic reasons ________ during recessions and the number of part-time workers for noneconomic reasons ________ during recessions
A) increases; does not change B) increases; increases C) decreases; increases D) increases; decreases E) does not change; does not change
Perfect Shots is company specializing in wedding photos and they have a fixed advertising budget. Perfect Shots advertises on the radio and the television and it costs $5,000 per unit of radio advertising and $15,000 per unit of television advertising. At their current advertising levels, the marginal benefit from radio advertising is $5,800 and the marginal benefit from television advertising is
$14,250. To optimally allocate their advertising budget, Perfect Shots should ________. A) increase the amount of advertising in radio and television B) increase the amount of advertising in radio and decrease the amount of advertising in television C) decrease the amount of advertising in radio and television D) decrease the amount of advertising in radio and increase the amount of advertising in television
Unintended costs that are imposed upon third parties as a result of an economic activity are called
a. marginal costs b. direct costs c. negative externalities d. positive externalities e. positive costs
Explain how tariff revenue can be considered an element of the importing country's national gain or loss from imposing a tariff.
What will be an ideal response?