Which of the following would not shift the demand curve for beef?
A. A widely publicized study that indicates beef consumption increases one's cholesterol.
B. A reduction in the price of cattle feed.
C. An effective advertising campaign by pork producers.
D. A change in the incomes of beef consumers.
Answer: B
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In the past dating was a fairly simple activity in the United States. If there was someone you wanted to go out with you would call them or ask them to go out for dinner and a movie
Nowadays it appears that many people are willing to pay large amounts of money to professional dating services to find a compatible mate. This idea is not a new one but it has increased quite dramatically in popularity. What does this suggest about what kind of good dating services might be and why? Are we likely to find this type of service be more or less prevalent in poorer countries?
Assume that 50 percent of the population consisting of 2,000 low-risk people and 1,000 high-risk people choose a comprehensive health insurance plan having a break even premium of $800 . The remaining 50 percent, also consisting of 2,000 low-risk people and 1,000 high-risk people, choose a Health Maintenance Organization plan having a break even premium of $400 . If high-risk people submit claims
worth $2,000 under the comprehensive plan and $1,000 under the HMO plan, which of the following situations will occur? a. High-risk people will shift to the comprehensive plan resulting in an increase in its premium rate. b. High-risk people will shift to the HMO plan resulting into a fall in its premium rate. c. Low-risk people will shift to the comprehensive plan resulting in a substantial decrease in its premium rate. d. Low-risk people in both groups will stick to their respective plans and minimize their losses.
If the quantity demanded of a good is Q when the price for the good is P, the price elasticity of demand for that good at that point is:
A. (Q/P) × (1/slope) B. Q × P × (1/slope) C. (P/Q) × (slope) D. (P/Q) × (1/slope)
Exhibit 12-2 Unemployment categories Category# ofIndividuals Frictional unemployment 20 Structural unemployment 35 Cyclical unemployment 60 Discouraged workers 5 Underemployed workers 10 Fully employed workers410 Population900 Find the BLS's rate of unemployment from the following data: frictional unemployment = 150, structural unemployment = 200, cyclical unemployment = 225, discouraged workers = 25, underemployed workers = 75, fully employed workers = 850, total population = 2,000.
A. 17.5 percent B. 23.3 percent C. 38.3 percent D. 39.3 percent