If the price of gasoline decreases, what will be the impact in the market for public transportation?
A) The quantity of public transportation demanded increases.
B) The quantity of public transportation demanded decreases.
C) The demand curve for public transportation shifts to the left.
D) The demand curve for public transportation shifts to the right.
C
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The prisoners' dilemma shows that the players' dominant strategies often lead them to less than optimal outcomes. Is there any way in which this will not be the case?
What will be an ideal response?
Contractionary monetary policy is achieved by:
A) decreasing the amount of bank reserves and lowering the federal funds rate. B) decreasing the amount of bank reserves and raising the federal funds rate. C) increasing the amount of bank reserves and lowering the federal funds rate. D) increasing the amount of bank reserves and raising the federal funds rate.
U.S. exports:
A. have tended to decrease over time as a percentage of GDP. B. constitute a relatively low share of GDP compared to most other nations. C. make up about 12% of GDP. D. Both A and B are true.
Accounting profit differs from economic profit because:
a. of differences in the manner in which revenue is calculated. b. economic costs include depreciation, while accounting costs do not. c. accounting costs are generally higher than economic costs because accounting costs include explicit and implicit costs, while economic costs include only explicit costs. d. economic costs are generally higher than accounting costs because economic costs include all opportunity costs, while accounting costs include explicit costs only.