If the price of hot dogs increases, the demand for hot dog buns will
A) increase.
B) decrease.
C) remain constant.
D) shift to the right.
B
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"U.S. exports will increase as a result of joined CAFTA," is an example of a ________ statement, while "The U.S. should join CAFTA," is an example of a ________ statement.
A. structural policy; fiscal policy B. positive; normative C. normative; positive D. monetary policy; fiscal policy
When there is an abrupt increase in the rate of inflation,
a. the actual rate of inflation will tend to fall below the natural rate. b. the actual rate of inflation will tend to rise above the natural rate. c. the actual and natural rate of inflation will generally be equal. d. the natural rate of unemployment will tend to rise.
Use the following graph to answer the next question.
To maximize profits, the perfectly competitive firm should produce output at
A. A. B. B. C. C. D. K.
You want to buy a TV that regularly costs $250. You can either buy the TV from a nearby store or from a store that's downtown. Relative to going to the nearby store, driving downtown involves additional time and gas. The downtown store, however, has a 10% off sale this week. Last week you drove downtown to save $20 on some concert tickets, a 15% savings. Should you drive downtown to buy the TV?
A. Yes, because you will save more than $20. B. Yes, because you will save 10%, which is better than nothing. C. No, because you will only save 10%, which is less than 15%. D. No, because you will save more than $20.