When the price of apples goes up
A) the quantity of apples demanded will decrease, ceteris paribus.
B) the demand for apples will increase, ceteris paribus.
C) the quantity of apples demanded will increase, ceteris paribus.
D) the demand for apples will decrease, ceteris paribus.
A
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What claim is made by the Ricardian Equivalence Theorem? Why must it hold in a simple economy? If it fails to hold for our economy, what do economists expect the reason(s) may be?
What will be an ideal response?
The regional Federal Reserve Banks
a. are not allowed to make loans to banks in their region. b. regulate banks in their regions. c. have more voting members on the FOMC than does the Board of Governors. d. are each headed by a member of the Board of Governors.
"In the corn market, demand often exceeds supply and supply sometimes exceeds demand." "The price of corn rises and falls in response to changes in supply and demand." In which of these two statements are the terms demand and supply being used correctly?
A. In neither statement. B. In the second statement. C. In the first statement. D. In both statements.
A key consideration in the government's decision in the Staples/Office Depot case was that:
A. Staples charged lower prices in locations that were close to an Office Depot store. B. Staples charged higher prices in locations that were close to an Office Depot store. C. Staples and Office Depot had engaged in explicit price fixing. D. Staples and Office Depot would be a natural monopoly if they were allowed to merge.