The price of dog collars has gone down, and all other variables have remained constant. This change can be shown graphically as a:
A. movement along the demand curve to the right.
B. movement along the demand curve to the left.
C. shift in the demand curve to the right.
D. shift in the demand curve to the left.
Answer: A
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Which of the following equations for domestic absorption is correct?
A) a ? c + i + g + im B) a ? c + i + g + im - x C) a ? x - im D) a ? c + i + ca + im
The analytical framework in which two or more firms compete for certain payoffs that depend on the strategy that the others employ is
A) game theory. B) the concentration ratio. C) a horizontal merger. D) network effect.
Which of the following should help reduce the adverse selection problem?
A) the employer mandate provision of the Affordable Care Act B) the individual mandate provision of the Affordable Care Act C) keeping high-risk and low-risk individuals in the same health insurance pool D) all of the above
Which of the following is TRUE?
A) Generally, the lower the country's average income, the less administrative, scientific, and technical capacity it has to design and enforce standards. B) National priorities do not change as income changes—countries of all income levels seem to share the same priorities and values. C) Differences in income are always an obstacle to the harmonization of standards. D) The adoption of a common set of rules usually narrows the market and raises prices.