Because elephants roam freely in many countries in Africa, each individual African elephant poacher has
a. a strong incentive to kill as many elephants as he can find.
b. a strong incentive to protect the elephants.
c. the ability to save the elephants.
d. None of the above is correct.
a
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The price of cereal rises. As a result, people have cereal for breakfast on fewer days and eat eggs instead. This behavior is an example of
A) a decrease in the quantity demanded of cereal because of the substitution effect. B) an increase in the quantity demanded of eggs because of the income effect. C) a decrease in the quantity supplied of cereal because of the substitution effect. D) an increase in the quantity supplied of eggs because of the income effect.
If gains from trade are based solely on comparative advantage, and if all countries have the same opportunity costs of production, then there are no gains from trade.
Answer the following statement true (T) or false (F)
According to Gordon, the main losers due to the redistributive effect of the postwar inflation in the United States were
A) households. B) corporations. C) government. D) foreigners.
A sudden rise in the market demand in a competitive industry leads to
a. A short run market equilibrium price higher than the original equilibrium b. A market equilibrium higher than the short run price c. Some firms exiting the market d. All of the above