File-sharing programs such as Napster, Kazaa, and iMesh make it possible for individuals to exchange music files over the Internet
All else constant, which of the following statements best describes how the development of these programs has affected the retail market for new music CDs? A) Demand for CDs has decreased, causing equilibrium price and quantity to decrease.
B) Demand for CDs has increased, causing equilibrium price and quantity to increase.
C) Demand for CDs has decreased, causing equilibrium price to decrease and equilibrium quantity to increase.
D) Demand for CDs has increased, causing equilibrium price to increase and equilibrium quantity to decrease.
A
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Unequal incomes can arise from: a. discrimination
b. worker preferences. c. differences in educational backgrounds. d. all of the above.
Which of the following is NOT a requirement in selecting a policy instrument?
A) measurability B) controllability C) flexibility D) predictability
Which of the following would cause a decrease in the price of a good?
A) an increasing shift in the supply of a good and no shift in demand B) a decreasing shift in the supply of a good and no shift in demand C) an increasing shift in the demand for good and no shift in supply D) an increasing shift in the demand for good and a decreasing shift in supply
The "Prisoners' Dilemma" is an example of a cooperative game
a. True b. False Indicate whether the statement is true or false