Suppose studies showed that only 15 percent of all teens wear their bike helmets while riding their bikes. If policymakers wish to have more teens wear their bike helmets, they should:
A. inform teens of the social norm.
B. not inform teens of the social norm.
C. Informing them of the social norm will have no impact on their individual situation.
D. The statistic is likely to influence their personal decision, but it is impossible to predict in what way without more information.
B. not inform teens of the social norm.
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An increase in the discount rate ________ the present value of a bond and ________ the price of the bond.
A) increases; increases B) decreases; decreases C) decreases; increases D) increases; decreases
Suppose the cost of milk rose 100 percent from 1990 to 2010, and average prices for the economy rose 133 percent. Relative to others, people who purchased milk experienced a:
A. Lower real income as a result of the price effect. B. Higher real income as a result of the price effect. C. Lower real income as a result of the wealth effect. D. Higher real income as a result of the income effect.
Refer to the information provided in Figure 3.10 below to answer the following question(s).
Figure 3.10Refer to Figure 3.10. An increase in supply is represented by the movement from
A. S2 to S3. B. Point B to Point C along supply curve S2. C. Point B to Point A along supply curve S2. D. S2 to S1.
If two markets have the same price elasticity of demand at every price, a monopoly will not practice multimarket price discrimination
What will be an ideal response?