To ensure that decision makers have enough information to make god decisions
a. Move information to those making the decisions
b. Move decision making to those with the information
c. All of the above
d. None of the above
c
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Suppose Sprite and 7-Up are considered by consumers to be substitutes. The likely economic impact of a decrease in the price of 7-Up is a:
a. movement up along the demand curve for Sprite. b. decrease in the supply of 7-Up c. rightward shift of the demand curve for Sprite. d. leftward shift of the demand curve for Sprite.
Speculators serve no useful function in a market
a. True b. False Indicate whether the statement is true or false
When there is an expansionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; expand B. increase; raise; decline C. decline; lower; decline D. decline; raise; decline
The reason the marginal benefit of information curve is downward sloping is because
A. some information is useless. B. information adds less and less benefit as more of it is acquired. C. most information is useless. D. there is only so much to learn about a product.