Let D= demand, S = supply, P = equilibrium price, and Q= equilibrium quantity. What happens in the market for tropical hardwood trees if the governments restrict the amount of forest lands that can be logged?
A) D no change, S decreases, P increases, Q increases.
B) D decreases, S no change, P and Q decrease.
C) S decreases, D no change, P increases, Q decreases.
D) D and S decrease, P and Q increase.
C
Economics
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Structural unemployment exists when
A. the government decides who is unemployed. B. there are too few workers to fill available jobs. C. there is a mismatch between worker skills and employer needs. D. the construction industry lays workers off.
Economics
A positive temporary supply side shock will:
A. increase the level of potential output in the long run. B. decrease the price level in the long run. C. increase the price level in the long run. D. have no effect in the long run.
Economics