Other things remaining the same, a fall in the price of peanuts will ________
A. increase the supply of peanuts
B. decrease the supply of peanut butter
C. decrease the quantity supplied of peanuts
D. decrease the supply of peanuts
C A fall in the price of the good creates a movement along the supply curve and decreases the quantity supplied.
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Slope is calculated as a change in the variable on the horizontal axis divided by a change in the variable on the vertical axis
Indicate whether the statement is true or false
Which of these is not a good example of skill-biased technical change?
A) GPS navigation equipment in delivery trucks B) web-enabled virtual classrooms C) self-service check out scanners D) use of robots in automobile assembly
The United States economy in the mid-2000 . did not experience stagflation because
a. energy prices declined. b. the energy content of GDP declined. c. the U.S. economy became more volatile since 1980. d. all of the above.
Problems in measuring the cost of living include ***************
A. Substitution bias B. The introd of new goods C. Unmeasured quality changes D. All E. None