The Paris Bataclan massacre by Al-Qaeda, which struck a French target that was lightly defended, was an example of the "rational terrorist's"
A. compression effect.
B. marginalist technique.
C. substitution effect.
D. diversion technique.
Answer: C
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Suppose the government spending multiplier is 1.5. This means that
A) a $1 decline in government spending will raise Real GDP by $1.50. B) a $1 rise in government spending will raise both total spending and Real GDP (assuming prices are constant) by $1.50. C) a $1 rise in government spending will raise investment spending by $1.50. D) a $1 rise in government spending will change interest rates by 1.50 times what it was before the $1 rise in government spending. E) none of the above
An inward shift in the entire production possibilities frontier
A. represents economic growth. B. means that the economy can produce more of both goods. C. takes place if there is an expansion in the labor force. D. means that previous levels of production are now unobtainable.
Economists pay special attention to making choices at the margin
a. true b. false
Which of the following examples shows the most elastic demand?
a. When the price of gasoline increases from $2.50 to $2.75 per gallon, sales remain the same. b. When the price of stoves increases from $700 to $800 per stove, sales decrease by half. c. When the price of apples decreases from $2 to $1 per pound, sales increase 10 percent. d. When the price of cell phones decreases from $100 to $80 per phone, sales triple.