Which of the following would best explain a decrease in the supply of squash?
A. A decrease in the price of squash
B. An increase in the price of squash
C. An increase in the price of other vegetables
D. A decrease in the cost of growing squash
Answer: C
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A model's predictions are referred to as:
A) statistics. B) theories. C) hypotheses. D) empirical evidences.
According to your text, what is the significant distinction between the government and the nongovernment sector of society?
A) Government decisions are made by collectives rather than by individuals. B) Government is usually granted the right to coerce adults. C) Government officials pursue the public interest rather than narrow special interests. D) Government takes the long-run view and thus cares for the interests of future generations. E) The government sector is not characterized by competition.
Which of the following would not be categorized as a form of third-degree price discrimination?
A) Group pricing. B) Promotional pricing. C) Versioning. D) Personalized pricing.
The "greater fool" theory assumes that
A) markets are efficient. B) bubbles cannot exist in well-organized markets. C) it makes sense for an investor to buy an asset as long as there is someone else to buy it later for a higher price. D) bond market returns are always above stock market returns.