Inflation was the nation's number-one economic worry during
A. the 1920s.
B. the late 1950s.
C. the early 1960s.
D. the 1970s.
D. the 1970s.
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If there is a permanent decrease in demand in a perfectly competitive market, then there is an initial ________ in price and existing firms ________
A) rise; make an economic profit B) rise; incur an economic loss C) fall; make an economic profit D) fall; incur an economic loss
The relative price of a magazine in the above figure is
A) 0.5 of a hamburger per magazine. B) 1 hamburger per magazine. C) 1.33 hamburgers per magazine. D) 8 hamburgers per magazine.
If the price of automobiles were to decrease substantially, the demand curve for pizza would most likely
A) shift rightward. B) shift leftward. C) remain unchanged. D) remain unchanged while quantity demanded would change.
Countries with the highest degrees of governmental bureaucratic inefficiency index
A) typically are nations with the highest real GDP per capita. B) typically are nations with the lowest real GDP per capita. C) normally have the lowest measured levels of dead capital. D) normally have the highest measured levels of economic freedom.