A decrease in demand shifts the demand curve to the left
a. True
b. False
Indicate whether the statement is true or false
True
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A problem for equity contracts is a particular type of ________ called the ________ problem
A) adverse selection; principal-agent B) moral hazard; principal-agent C) adverse selection; free-rider D) moral hazard; free-rider
According to the classical model, total employment will increase when
a. the birth rate increases b. the government creates more jobs c. the labor force increases d. individuals receive more education e. there is a recession
Suppose that at your current consumption of two goods, A and B, MUA/PA = 25 and MUB/PB = 20. In order to maximize, your utility you should:
A. purchase less of A and more of B. B. purchase more of A and less of B. C. leave your spending unchanged. D. purchase less of A and B.
The supply curve for gasoline will be more elastic in:
A. the short run because of the principle of diminishing returns. B. the long run because of the principle of diminishing returns. C. the short run because firms have more time in which to respond to the price change. D. the long run because firms have more time in which to respond to the price change.