Which of the following events must result in a lower price in the market for Snickers?
a. Demand for Snickers increases, and supply of Snickers decreases.
b. Demand for Snickers and supply of Snickers both decrease.
c. Demand for Snickers decreases, and supply of Snickers increases.
d. Demand for Snickers and supply of Snickers both increase
c
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Commercial airlines have two primary suppliers of large jet aircraft: Boeing and Airbus
Since millions of people fly with commercial airlines each year, should these aircraft manufacturers be required to incorporate every possible safety feature into the aircraft they manufacture? Should the manufacturers be allowed to incorporate no safety features? If some safety considerations are to be required, how would an economist decide on which features to include and which not to include?
A federal budget deficit ________ interest rates, which ________ exchange rates (foreign currency per domestic currency), and ________ the balance of trade
A) reduces; raises; reduces B) raises; reduces; reduces C) reduces; reduces; raises D) raises; raises; reduces
People will consistently sit through terrible movies at the theater instead of leaving early. This behavior makes no sense because it implies people are:
A. ignoring sunk costs, which is irrational. B. focusing on sunk costs, instead of thinking at the margin. C. thinking at the margin, instead of focusing on sunk costs. D. not thinking at the margin, which is rational.
The standard deduction for two individuals is higher than the standard deduction for a married couple, causing a "marriage tax."
A. True B. False C. Uncertain