If the government increases its efforts to reduce illegal drugs which of the following would explain the possible unintended consequences—an increase in drug-related crimes.
a. More people will commit crimes as a result of the increased drug use
b. Tough drug enforcement policies reduce the demand for illegal drugs.
c. Drug addicts will have an even greater need for quick cash to support their habits.
d. In the short run, both equilibrium quantities and prices will fall in the markets for illegal drugs.
c
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Refer to Figure 13-15 to answer the following questions
a. What is the profit-maximizing output level? b. What is the profit-maximizing price? c. What is the average total cost at the profit-maximizing output level? d. What area represents the firm's profit? e. At which output level are economies of scale exhausted? f. Does this graph most likely represent the long run or the short run? Why?
As of 2009, M2 had a value of more than ______ dollars
a. $8 trillion. b. $1 trillion. c. $5 trillion. d. $3 trillion. e. $14 trillion.
If Juan purchases the same number of gallons of gasoline per week regardless of changes in gasoline price, Juan's demand for gasoline is:
A. perfectly elastic. B. elastic. C. perfectly inelastic. D. inelastic.
Carlos can buy either sushi or eggrolls. If the prices of sushi and eggrolls triple and Carlos's money income doubles, we can deduce that Carlos's budget constraint will
A. shift out but remain parallel to the old one. B. shift in but remain parallel to the old one. C. swivel in so that the slope of the budget constraint is doubled. D. remain unchanged.