A higher price for batteries would result in a(n)
a. increase in the demand for flashlights.
b. decrease in the demand for flashlights.
c. increase in the demand for batteries.
d. decrease in the demand for batteries.
b
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What explains the appreciation of the Japanese yen relative to the U.S. dollar from 1970 to the early 1990s?
A) High tariffs and restrictive quotas in the United States caused the value of the dollar to decline. B) Japanese productivity rose faster than U.S. productivity. C) U.S. consumers reduced their preferences for Japanese goods. D) Japanese inflation rose faster than U.S. inflation.
Which of the following schools of thought stressed on a fixed-price model for macroeconomic equilibrium?
a. Traditional Keynesians b. New Keynesians c. Monetarists d. Classical economists e. New classical economists
Economic analysis suggests that bureaucrats and public-sector managers have a strong incentive to
a. make sure that their budgets are as small as possible so more funds will be available for other government programs. b. expand their budgets to sizes beyond what would be considered economically efficient. c. ensure that their budgets are exactly the size that would be considered economically efficient. d. economize on their spending and return unspent funds to the general treasury.
The dean of a large university issues the following policy for faculty pay-raises in the smaller satellite campuses: faculty pay increases will be possible only if enrollment increases above last year's targets. Evaluate the impact of this policy on the overall system.
What will be an ideal response?