With trade, countries can consume combinations of goods beyond their production possibilities frontier
a. True
b. False
Indicate whether the statement is true or false
True
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From the 1970s through the 1990s, the relative price of a college education has increased greatly. During the same time period, college enrollment has also increased. This evidence suggests that during this time period
A) the demand curve for a college education has shifted leftward. B) the demand curve for a college education has shifted rightward. C) the supply curve for a college education has shifted leftward. D) the supply curve for a college education has shifted rightward.
Assume that concerns about tap water potability increase demand for bottled water, and that the new demand (D’ ) is represented by the following: D’ = MSB’ = 7 – 0.1Q What is the new equilibrium quantity (QE’ ) and price (PE’) in the U.S. bottled water market?
Suppose that the U.S. market for bottled water is modeled as follows: S = MSC = 1 + 0.3Q D = MSB = 5 – 0.1Q, whereQ is billions of gallons per year and MSC and MSB are in dollars per gallon.
Which of the following would provide a reasonable benchmark for how much you should pay monthly into a "real world" savings account?
A) Sum your unexpected expenditures over the last 12 months, divide this figure by 12, and allocate this amount into the savings account regularly. B) Sum your unexpected expenditures during the last month, and if this total is greater than the additional amount you can borrow on your credit cards, you do not need a "real world" savings account. C) Sum your unexpected expenditures last month and allocate this amount into the savings account regularly. D) Sum your unexpected expenditures over the last 12 months, divide this figure by 12, and if this total is less than the additional amount you can borrow on your credit cards, you do not need a "real world" savings account.
Figure 3.4 illustrates the demand for tacos. Assume that tacos and beer are complements. An increase in the price of beer would bring about a movement from:
A. point a to point b. B. point c to point b. C. D2 to D1. D. D0 to D2.