Which of the following would likely cause an increase in the supply of single-serve coffee makers?
A. a decrease in the cost of manufacturing single-serve coffee makers
B. a widespread expectation that the price of single-serve coffee makers will rise in the future
C. a decrease in the number of consumers demanding single-serve coffee makers
D. an increase in the price of single-serve coffee makers
Answer: A
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The real costs of inflation to society include:
A. an increase in the general level of prices. B. higher relative prices. C. lost purchasing power of income. D. interference with long-term planning.
A person practices poisonous snake charming and does not reveal this to her health insurance company before purchasing insurance. This is an example of
A) moral hazard. B) adverse selection. C) signaling. D) screening.
Suppose you have purchased a non-refundable plane ticket and, at the last moment, you cannot take the trip. You can, however, sell the ticket. If you paid $700 for the ticket, the cost of sending the ticket to someone through overnight mail is $20, and you spend $10 on a courier to get the ticket to the post office for overnight delivery, what is the minimum you should accept for the ticket?
a. $700 because that is what the ticket cost. b. $720 because that is the cost of the ticket and of getting it to the buyer. c. $730 because that is the total cost of the ticket and getting it to the buyer. d. More than $730, so that you can make a profit. e. $30 because the $700 is a sunk cost.
A country has output of $600 billion, consumption of $350 billion, government expenditures of $90 billion and investment of $60 billion. What is its supply of loanable funds?
a. $160 billion b. $150 billion c. $60 billion d. $30 billion