According to your textbook, efforts to free Sudanese slaves by buying them in the open market actually
A) increased supply of slaves, which lowered slave prices and increased the size of the slave market.
B) increased demand for slaves, which increased slave prices and increased the size of the slave market.
C) decreased supply of slaves, which increased slave prices and decreased the size of the slave market.
D) decreased demand for slaves, which decreased slave prices and decreased the size of the slave market.
B
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In the presence of positive externalities, the market will choose a price that is __________ and produce a quantity that is __________ than the socially optimal price and quantity
a. higher; lower b. lower; lower c. higher; higher d. lower; higher e. impossible to know without more information about market demand and supply
Because of technological change, oil companies like Chevron were able to produce almost twice as much output from refineries in 2016 as in 1950 while using 60 percent fewer workers. This represents ________ in output per worker, which is also known as
________. A) an increase; labor productivity B) a decrease; structural unemployment C) an increase; crowding out D) a decrease; capital growth