Figure 4.4 illustrates the supply of tacos. An increase in the number of Mexican food producers would most likely cause a movement from
A) point a to point c. B) point c to point a. C) S0 to S2. D) S2 to S0.
C
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Merit goods
a. are free goods b. are provided only by the private market c. are provided only by government d. are provided both by the private market and by government e. have zero costs although their price is greater than zero
If the PCE deflator increased from 88 to 99 in one year, the rate of consumer inflation is:
A. 10.0 percent. B. 12.5 percent. C. 13.4 percent. D. 11.0 percent.
Recall the Application about the incentives to install rooftop solar panels to answer the following question(s).According to the Application, another factor that was responsible for solar power deployment was the rising price of electricity. The increase in sales due to higher electricity prices describes the economic concept of:
A. using assumptions to simplify. B. ceteris paribus. C. rational self interest. D. marginal thinking.
Tracy and Amy are playing a game in which Tracy has the first move at X in the decision tree shown below. Once Tracy has chosen either the top or bottom branch at X, Amy, who can see what Tracy has chosen, must choose the top or bottom branch at Y or Z. Both players know the payoffs at the end of each branch. 
If before Tracy chose, Amy could make a credible commitment to choose either the top or bottom branch when her turn came, then we would expect Tracy to get a payoff of ________ and Amy to get a payoff of ________.
A. 75; 150 B. 125; 125 C. 300; 200 D. 25; 225