Which of the following would most likely cause the demand for veggie-burgers to increase?
a. A decline in the price of veggie-burgers
b. An increase in the price of tofu-burgers, perceived as a substitute for veggie-burgers
c. An increase in the price of burger buns
d. A decline in the prices of some of the vegetables used for the burger
b
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What will happen if the institutions in an economy transform from inclusive to extractive?
A) The return-to-entrepreneurship schedule will shift rightward and the opportunity cost to entrepreneurship will decrease. B) The return-to-entrepreneurship schedule will shift leftward and the opportunity cost to entrepreneurship will decrease. C) The return-to-entrepreneurship schedule will shift leftward and the opportunity cost to entrepreneurship will increase. D) The return-to-entrepreneurship schedule will shift rightward and the opportunity cost to entrepreneurship will increase.
To cut inventories, firms produce ________ and real GDP ________, which ________ people's incomes
A) less; rises; lowers B) less; falls; lowers C) less; rises; raises D) more; falls; lowers E) more; rises; raises