Following the implementation of laws requiring automobiles to have seat belts, which of the following occurred?
a. An individual's probability of surviving an auto accident rose.
b. There was an increase in pedestrian deaths.
c. There was an increase in automobile accidents.
d. All of the above are correct.
d
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In which market would the price be least likely to be "sticky"?
A) refrigerators B) steel rods C) trucks D) fresh fruit
Apple introduced its iPhone 3G in July 2008 and within a month sales had topped 3 million units. By April 2009, more than 25,000 apps for the iPhone 3G were available in the iTunes store, an indication that in a competitive market
A) entry into the market is restricted in the short run, but becomes easier in the long run. B) the ease at which a new firm can enter a competitive market is high. C) entry into the market is blocked. D) the ease at which a new firm can enter a competitive market is low.
Under ERM 2 rules, the national central bank of an EU member with its own currency can suspend euro intervention operations
A) if there is a civil war. B) if they result in money supply changes that threaten to destabilize the domestic price level. C) if there is a current account deficit. D) if there is a current account surplus. E) if they result in a weakened current account.
In a centrally planned economic system, who decides what and how much will be produced?
A. Consumers B. Privately owned businesses C. The government D. The people, by referendum every five years