The forces that determine the cost of production are largely independent of the forces that shape demand
a. True
b. False
A
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According to the Bureau of Labor Statistics, most U.S. adults are either
A) employed or unemployed. B) employed or not in the labor force. C) unemployed or not in the labor force. D) unemployed or underemployed.
Which government undertook significant infrastructure projects in the mid-1990s to improve roads and public works, which in turn increased the stock of physical capital and ultimately economic growth?
a. South Korea b. the United States c. Japan d. China
Which of the following will cause a downward movement along the aggregate demand curve?
a. An increase in the price level of all goods and services b. A decrease in the price level of all goods and services c. A technological improvement in the country d. An increase in government spending
If the cost of producing sofas decreases, then consumer surplus in the sofa market will
a. increase. b. decrease. c. remain constant. d. increase for some buyers and decrease for other buyers.