The production of methamphetamine (meth) is a social problem in the Midwest. Iowa is considering two potential programs: Operation Methbust would increase the number of sheriffs' deputies to search out and destroy methamphetamine labs. Operation Say No to Meth would increase the training required of public school teachers so that they could better educate students about the health risks of using meth. Assuming that each program were successful, which of the following statements is correct?
a. Both Operation Methbust and Say No would reduce the demand for meth.
b. Both Operation Methbust and Say No would reduce the supply of meth.
c. Operation Methbust would reduce the demand for meth; Operation Say No would reduce the supply of meth.
d. Operation Methbust would reduce the supply of meth; Operation Say No would reduce the demand for meth.
d
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Which of the following factors would tend to increase the size of the premium on an options contract?
A) The option is near its expiration date. B) The current default-risk-free interest rate is high. C) The price volatility of the underlying asset is low. D) The option is far away from its expiration date.
In a constant-cost industry, an increase in demand will be followed by
A) no increase in supply. B) an increase in supply that will not change price from the higher level that occurs after the demand shift. C) an increase in supply that will bring price down to the level it was before the demand shift. D) an increase in supply that will bring price down below the level it was before the demand shift. E) a decrease in demand to keep price constant.
The major sources of economic growth are
What will be an ideal response?
Compensation wage differentials are
A. used to make pay equal across different groups of workers. B. driven primarily by differences in ability. C. driven primarily by differences in experience. D. used to offset the increased danger of some jobs.