You are planning to open a new Italian restaurant in your hometown where there are three other Italian restaurants
You plan to distinguish your restaurant from your competitors by offering northern Italian cuisine and using locally grown organic produce. What is likely to happen in the restaurant market in your hometown after you open?
A) Your competitors are likely to change their menus to make their products more similar to yours.
B) While the demand curves facing your competitors becomes more elastic, your demand curve will be inelastic.
C) The demand curve facing each restaurant owner becomes more elastic.
D) The demand curve facing each restaurant owner shifts to the right.
C
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Workers who are unemployed but are not actively looking for jobs are referred to as:
A) laid back workers. B) laid off workers. C) discouraged workers. D) abandoned workers.
A nation that currently has a surplus in its current account is called a
A) creditor nation. B) debtor nation. C) net borrower. D) net lender. E) capital account surplus nation.