The more available substitutes there are for a good, the
a. larger the number of consumers
b. smaller the number of consumers
c. smaller the supply side response
d. more elastic the demand for that good
e. less elastic the demand for that good
D
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We are interested in long-term growth primarily because it brings
A) higher price levels. B) lower price levels. C) higher standards of living. D) trade wars with our trading partners.
A common assumption that economists make about the behavior of elected officials is that they try to
a. maximize the size of their government salaries b. maximize the size of their control over the budget process c. maximize the number of votes they receive in the next election d. minimize the government's expenditures in order to balance the budget e. conform to the wishes of special interest groups so that the government behaves as a single, consistent decision maker
Explain why many models of discrimination result in the prediction of segregated workforces.
What will be an ideal response?
The market for bagels contains two firms: BagelWorld (BW) and Bagels'R'Us (BRU). The owners of the two firms decide to fix the price of bagels. The table below shows how each firm's profit (in dollars) depends on whether they abide by the agreement or cheat on the agreement. 
For Bagel World, ________ is a ________.
A. cheating on the agreement; dominated strategy B. abiding by the agreement; dominant strategy C. abiding by the agreement; dominant strategy when Bagels'R'Us also abides D. cheating on the agreement; dominant strategy