Which of the following would not cause an increase in demand for tennis balls?
a. a reduction in the price of tennis racquets
b. a decrease in the price of tennis balls
c. an unusually sunny fall and winter
d. an increase in the popularity of tennis
b
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Compared to private bargaining, using eminent domain to acquire land generally
A) keeps negotiation costs low. B) is more time consuming and less successful. C) reduces cooperative surplus. D) is frowned upon by the government.
If the demand increases in a perfectly competitive market, the price will:
A. temporarily increase. B. increase permanently. C. temporarily decrease. D. decrease permanently.
Classical economists believe that
a. velocity varies directly with the money supply b. changes in the money supply affect real GDP c. the quantity of money explains prices d. the money supply affects velocity e. there are three motives involved in the demand for money
The likely outcome of the standard prisoners' dilemma game is that
a. neither prisoner confesses. b. exactly one prisoner confesses. c. both prisoners confess. d. Not enough information is given to answer this question.