If the price of coffee decreases, the demand curve for tea (a substitute good) will:
a. remain unchanged. b. shift to the right.
c. shift to the left. d. do none of these
c
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How is the mean calculated from a series of observations? Suppose 5,000 people bought popsicles on a hot summer day. If the average number of popsicles that each person bought is 2, how many popsicles were sold that day?
What will be an ideal response?
Moral hazard can be avoided by:
A. employers monitoring employee effort. B. removing the asymmetric information. C. employers incentivizing employees to maintain consistent effort. D. All of these statements are true.
For each pair of goods, explain which is more elastic: toothpicks vs. cars; electricity vs. yachts; IBM computers vs. Apple computers
Supporters of the World Trade Organization contend that it:
A. undermines minimum wage laws in member nations. B. liberalizes trade among member nations. C. imposes safeguards for worker safety in member nations. D. weakens the environmental laws in member nations.