Ceteris paribus, which of the following is most likely to cause a decrease in the supply of skateboards?
A. An increase in the price of skateboards.
B. An improvement in skateboard-making technology.
C. An increase in the cost of materials used to produce skateboards.
D. All of the choices are correct.
Answer: C
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Keynesian economics:
a. affirms the classical economists' basic premise concerning competitive markets. b. believes that monopolies and unions tend to be permanent fixtures in our economy and the prices they create tend to be flexible, at least downwardly. c. emphasizes the possibility that an economy can never be in equilibrium at less than full employment. d. prefers to emphasize aggregate supply over aggregate demand. e. believes that unemployment results when aggregate demand is insufficient to reach a full-employment level of real GDP.
Which of the following best explains why the rate of unemployment is highest among individuals aged 16 through 19?
a. Teenagers do not have the skills necessary to find jobs. b. Teenagers change jobs more frequently than do older individuals. c. Teenagers have a higher labor force participation rate than other age groups. d. Most teenagers are in school and, for this reason, are not holding jobs.