Which of the following would tend to increase the demand for college textbooks?
A) A lower price of college textbooks
B) An increase in the number of enrolled college students
C) A significant increase in college tuition
D) Both A and B
B
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Over the business cycle, factors such as the quantity of capital, human capital and technology
A) change randomly, sometimes growing, sometimes falling. B) change drastically, fluctuating more than the quantity of labor employed. C) fluctuate about the same amount as the quantity of labor employed. D) grow but do not fluctuate as much as the quantity of labor employed. E) do not grow and are therefore not the source of economic growth.
One way by which firms differentiate their products is to find a market niche
Indicate whether the statement is true or false
The result that, under certain circumstances, no government action is needed to control an externality because it can be eliminated by bargaining between the affected parties is called
A) a Nash equilibrium. B) Coase Theorem. C) Bargaining Theorem. D) English Bargaining.
Which of the following statements describes the most likely effect of cutting taxes?
a. Cutting taxes would effectively raise the hourly wage, so it would encourage people to work more. b. Cutting taxes would effectively lower the hourly wage, so it would require people to work more to maintain their standard of living. c. People work either 20 hours or 40 hours per week, regardless of hourly wage, so cutting taxes would have no effect. d. Some people might work more hours, but others will not or will not be able to.