According to the law of demand, a higher rate of return (that is, a higher price) will decrease
a. supply.
b. demand.
c. quantity supplied.
d. quantity demanded.
d. quantity demanded.
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The reason some insurance customers are more eager to purchase insurance is
a. they are more risk averse b. they are less risk averse c. they have a greater risk of making a claim d. Both A&C
Since most welfare programs are administered by the federal government, there is uniformity in both eligibility and the dollar value of benefits in a state by state comparison
a. True b. False
Suppose that a sporting goods store had $800 of golf balls on its shelves at the beginning of 2016 and $1,300 at the end of 2016. The amount of inventory investment included in GDP would be:
A. $500. B. $800. C. $1,300. D. $2,100.
If China decides to enact laws to clean up the environment, what would be the effect on GDP?
A) GDP would increase reflecting the fact that the environment would be cleaner. B) GDP would decrease if the pollution controls reduce productivity by more than the cost of the controls. C) GDP would increase as the citizens of China were made happier as the environment was cleaned up. D) GDP would increase as the environmental costs of pollution were not included in the calculation of GDP.