When people became ________ concerned with the underlying value of their houses and became ________ concerned with the expectations of the prices of their houses increasing, a housing bubble occurred
A) more; less B) more; more C) less; more D) less; less
C
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Suppose that the equilibrium price of french fries rises while the equilibrium quantity falls. The most likely explanation for these changes is:
A. an increase in the supply of french fries. B. an increase in demand for french fries. C. a decrease in demand for french fries. D. a decrease in the supply of french fries.
Consider the monopsony in the above figure. The monopsony will hire ________ hours per week
A) 200 B) 400 C) 600 D) None of the above answers is correct.
Which of the following is the best example of a firm operating in a monopolistically competitive market?
a. A Kansas wheat farmer. b. TGI Fridays, a family restaurant. c. U.S. Postal Service. d. Boeing, an aircraft manufacturer
Which of the following schools of thought believes that wages and prices are rigid in the short run?
a. Keynesians and new Keynesians b. Only monetarists c. Only new classical economists d. Monetarists and new classical economists e. Monetarists and Keynesians