Ceteris paribus, a decrease in the U.S. price level will cause
a. an increase in U.S. exports.
b. an increase in U.S. imports.
c. the aggregate demand curve to shift to the right.
d. the aggregate demand curve to shift to the left.
A
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Refer to Figure 8.1. The Nash equilibrium is found where Charla plays ________ and where Mirna plays ________
A) Install; Install B) Install; Don't Install C) Don't Install; Install D) Don't Install; Don't Install
On the Lorenz curve graph, the area between the line of equality and the Lorenz curve is 2,500, and the entire area beneath the line of equality is 5,000. What does the Gini ratio equal?
What will be an ideal response?
How do individuals spending their own money behave differently than those spending someone else's money?
a. Money is money. It does not matter whose it is, you spend it the same way. b. Individuals spending their own money look for the best value given the price. c. When spending someone else's money, individuals are concerned about getting the best deal so the money will go farther. d. Individual behavior is unpredictable. It is anyone's guess what will happen.
The accompanying graph shows the cost curves for Moe's mushroom gathering business, which is perfectly competitive. 
If mushrooms sell for $10 per bushel, and Moe chooses the profit-maximizing quantity, he will gather:
A. zero bushels. B. 20 bushels. C. 30 bushels. D. 50 bushels.