Which auctioned good is more likely to have a common value across potential bidders?
A) a truckload of baseball memorabilia
B) a Monet painting
C) a customized car
D) timber
D
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Refer to the table above. If the price of one chocolate is $2, the marginal benefit per dollar spent on the fourth unit will equal:
A) $4. B) $2. C) $2.5. D) $5.
What does a study of immigration figures before 1921 indicate?
(a) An overwhelming majority of immigrants came from the British Isles. (b) Voluntary immigrations slowed as 1921 approached. (c) The diversification of immigrants increased since the colonial period of U.S. history. (d) It is not possible to link immigration patterns and growth in the U.S. economy.
Is it possible to have a GDP deflator of less than 100?
A. Yes, it would indicate a year when prices were lower than in the base year. B. Yes, it would indicate a year when output was lower than in the base year. C. No, that is mathematically impossible for the deflator to be less than 100. D. Yes, it would indicate a year when prices were lower than in the previous year.
A consumer's demand for a product increases because other consumers own it. This is an example of: a. bandwagon effect
b. a negative network externality. c. snob effect. d. none of the above