Lynne always wants to visit her grandparents because they give her new toys when she visits. The grandparents have ____ her visiting behavior.
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The unregulated, single-price monopolist illustrated in the figure above has a total revenue of
A) $8.00 per day. B) $16.00 per day. C) $36.00 per day. D) $40.00 per day.
Many persons object to the results of the competitive market system because
A. it takes too much energy to coordinate activities. B. efficient outcomes may not be compatible with their ideas of a fair distribution. C. a few people can control all economic activity. D. it fosters high rents and low beef prices.
A Pareto improvement is any action that makes at least one individual better off, and harms no one
a. True b. False
The biggest disadvantage of a fixed exchange rate is the
A) increased probability of high inflation. B) tradeoff between supporting the exchange rate and adjusting the trade balance. C) tradeoff between supporting the exchange rate and maintaining economic growth. D) tradeoff between supporting the exchange rate and maintaining a balanced budget.