If the price of iPods decreases,
A) there will be a movement up along the supply curve for iPods.
B) there will be a rightward shift in the iPod supply curve.
C) the supply curve for iPods shifts leftward.
D) there has been a decrease in the price of iTunes songs.
E) there will be a movement down along the supply curve for iPods.
E
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The figure above shows the U.S. production function. How would an increase in unemployment benefits be shown in the figure?
A) a movement from point C to point B B) a movement from point A to point B C) an upward shift or rotation of the production function D) a downward shift or rotation of the production function E) None of the above because the effects of an increase in unemployment benefits cannot be shown in the figure.
During the twentieth century, the real income of the average American grew by a factor of more than seven
a. True b. False Indicate whether the statement is true or false