If the United States were to pass legislation that would make it easier for people to emigrate to the United States, this would cause
A. the short-run aggregate supply curve to shift to the left.
B. the short-run aggregate supply curve to become flatter.
C. the short-run aggregate supply curve to become nearly vertical at all levels of output.
D. the short-run aggregate supply curve to shift to the right.
Answer: D
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A main rationale for government intervention in markets ________ and ________
A) is to reduce producer surplus; redistribute wealth B) concerns the creation of public goods; reduces free-riding C) is to correct market failures; increase surplus D) There is never an economic rationale for government intervention.
Deadweight loss results from too few or too many resources used in a given market
a. True b. False Indicate whether the statement is true or false
Comparing how many dollars it takes to attend college each year to annual earnings on a job represents the use of money as a:
A. medium of exchange. B. unit of account. C. store of value. D. store of coincidence.
Refer to Exhibit 2-8. For Maya, the opportunity cost of producing one unit of good X is ___________ unit(s) of good Y.
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