According to your textbook authors, the belief that economizing implies greedy behavior is
A) common but mistaken.
B) uncommon but true.
C) both common and true.
D) neither common nor true.
A
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The rash of hurricanes that pelted the Gulf Coast in 2005 resulted in a large decline in gasoline production as many offshore rigs were shut down and many refineries were taken off line while waiting out the hurricane
The decrease in supplies of gasoline led to a run up in prices. Many voters clamored for relief by calling on their congressman and senators to enact temporary price controls. Analyze the impact on the gasoline market that would have transpired had politicians actually headed the calls by voters to impose price controls on gasoline.
Maria wishes to buy gasoline and have her car washed. She finds that if she buys 9 gallons of gasoline at $2.50 per gallon, the car wash costs $2, but if she buys 10 gallons of gasoline, the car wash is free. For Maria, the marginal cost of the tenth gallon of gasoline is
a. zero. b. 50 cents. c. $2.00. d. $2.50.
For monetary policy to be effective in changing planned investment spending, _____
Fill in the blank(s) with the appropriate word(s).
Distinguish between the balance of payments and the balance of trade
What will be an ideal response?