An economy in which output has decreased and prices have increased would suggest that there has been a:
A. negative demand side shock.
B. negative supply side shock.
C. positive demand side shock.
D. positive supply side shock.
Answer: B
Economics
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Refer to Table 15-3. If Comcast maximizes its profits how much profit will it earn?
A) $84 B) $40 C) $4 D) Comcast will break even.
Economics
Refer to the table above. If each country were to reduce production of its comparative disadvantage good by 1 unit, world output of wine would rise by
A) 1.5 units. B) 2 units. C) 3 units. D) 3.5 units.
Economics