If the price of salmon increases relative to the price of cod, the demand for:
A) cod will decrease.
B) cod will increase.
C) salmon will decrease.
D) salmon will increase.
B
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In 1935 the basic component of the present-day government-managed insurance program was established. It is known as
a. Medicare b. Medicaid c. Social Security d. AFDC e. food stamps
A market includes
a. buyers only. b. sellers only. c. both buyers and sellers. d. the place where transactions occur but not the people involved.
A consumer optimum is characterized by
A) the marginal rate of substitution of one good divided by its price equal to the marginal rate of substitution of the other good divided by its price. B) the marginal rate of substitution equal to unity. C) the marginal rate of substitution equal to the ratio of the prices of the two goods. D) the marginal rate of substitution divided by the price ratio of the two goods equal to the income of the consumer.
Of the $840 billion American Recovery and Reinvestment Act stimulus package which was enacted in 2009, approximately one-third took the form of ________ and two-thirds took the form of increases in ________
A) discretionary government spending; transfer payments B) tax rebates; tax cuts C) treasury bond purchases; the money supply D) tax cuts; government expenditures