Which of the following events would increase the price elasticity of demand for Chicago Bears tickets that sell at a price of $20?
a. b and c.
b. The Bears are having a successful season.
c. The visiting team is having a successful season.
d. The Bears have been defeated in their previous seven games.
e. The weather on game day will be warm.
d
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Refer to Scenario 11.1. Suppose all five ranchers know that their land that Mariana needs is worth a total of $2 million. If each rancher agrees to sell his or her parcel of land to Mariana for $600,000, Mariana will purchase
A) all five parcels of land and the railway will be built. B) all five parcels of land but the railway will not be built. C) only four parcels of land and the railway will be built. D) no parcels of land and the railway will not be built.
In the above figure, suppose the economy is initially on the demand for money curve MD1. What is the effect of an increase in financial innovation such as the introduction of ATMs?
A) The demand for money curve would shift rightward to MD2. B) The demand for money curve would shift leftward to MD0. C) There would be a movement upward along the demand for money curve MD1. D) There would be a movement downward along the demand for money curve MD1.
According to the assignment rule, which of the following policy mixes is appropriate for a country with high inflation, a balance of payments deficit, and fixed exchange rates?
A. Contractionary fiscal policy and contractionary monetary policy B. Expansionary fiscal policy and contractionary monetary policy C. Contractionary fiscal policy and expansionary monetary policy D. Expansionary fiscal policy and expansionary monetary policy
All of the following can be used to increase monopoly power except
A. Antitrust laws. B. Discounts for customer loyalty. C. Acquisitions. D. Lawsuits.