During a recession, spending on ________ tends to fall more dramatically than spending on ________
A) nondurable goods; durable goods B) durable goods; nondurable goods
C) food; cars D) necessities; luxuries
B
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In the foreign exchange market, which of the following shifts the demand curve for dollars rightward?
A) The current exchange rate rises. B) The expected future exchange rate rises. C) The current exchange rate falls. D) The expected future exchange rate falls. E) None of the above answers is correct.
Steve owns a motorcycle valued at $5,000, and that is his only asset. There is a 5 percent chance that Steve will have an accident within a year. If he does have an accident, his motorcycle is worthless
Steve's utility of wealth curve is shown in the figure above. An insurance company agrees to pay Steve the full value of his motorcycle in case of an accident if he buys the company's insurance policy. The company's operating expenses are $500 per policy. With no insurance, Steve's expected wealth is A) $4,000. B) $4,500. C) $3,500. D) $5,000.
Less-developed countries are experiencing rapid population growth because birthrates are on the rise and mortality rates are falling
a. True b. False Indicate whether the statement is true or false
If a monopolist increases quantity by one unit, _____
a. the monopolist's marginal revenue will fall b. the price of all units will increase c. the marginal revenue of selling the last unit will be more than its price d. the marginal revenue curve will rise above the demand curve