Producers Are Willing and Able to Offer Greater Quantities for Sale

question 185

Multiple Choice

Producers are willing and able to offer greater quantities for sale at higher prices because

• A)they have the incentive to pay the increasing opportunity cost of resources to attract them from alternative uses
• B)they will decrease their profits by expanding production at higher prices
• C)the government orders them to do so
• D)lower prices attract new firms, which have higher costs of production
• E)they hire superior quality, higher-priced resources as production expands

Recognize the legislative branch's checks on the judicial and executive branches.

Explain how protections against state action can extend to private activities.

Understand the application of different tests under the Equal Protection Clause of the Fourteenth Amendment.

Differentiate between Fifth and Fourteenth Amendment due process clauses.

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Definitions:

Unemployment Data

Statistical information that measures the number of people who are actively seeking work but cannot find employment, reflecting the health of an economy.

Labor-Force Participation

The percentage of the population that is of working age, willing, and able to work, and is either employed or actively seeking employment.

Unemployment Rates

The slice of the labor market that is not working but is trying to find employment.

Ages 25-54

A demographic group often considered the prime working age range, reflecting a significant portion of the labor force.