Universities A and B are substitutes in the minds of many college students. Initially the student tuition at each university is the same and far below the equilibrium tuition. Then, the tuition at A is raised and B is not. As a result of a rising tuition at A, some students who would have applied and enrolled in A, apply to B instead. Based on the logic presented in one of the theories discussed
in the textbook, we would expect that
A) instructors at B will begin to be less nearly punctual for office hours than they were previously.
B) instructors at A will begin to be more nearly punctual for office hours than they were previously.
C) instructors at B will be more nearly punctual for office hours than they were previously.
D) a and b
E) b and c
D
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Which of the following economic and/or political rights does the labor movement work toward gaining?
(a) Property rights for women (b) The right to vote for women (c) The right to vote for non-owners of property (d) All of the above
According to purchasing-power parity, when a country's central bank decreases the money supply, a unit of money
a. gains value both in terms of the domestic goods and services it can buy and in terms of the foreign currency it can buy. b. gains value in terms of the domestic goods and services it can buy, but loses value in terms of the foreign currency it can buy. c. loses value in terms of the domestic goods and services it can buy, but gains value in terms of the foreign currency it can buy. d. loses value both in terms of the domestic goods and services it can buy and in terms of the foreign currency it can buy.
When money demand is expressed in a graph with the interest rate on the vertical axis and the quantity of money on the horizontal axis, an increase in the interest rate
A. decreases the quantity demanded of money. B. does none of these answers. C. increases the quantity demanded of money. D. increases the demand for money. E. decreases the demand for money.
The United States produces some of the electronic components used as inputs in its fighter planes. But due to the limited number of companies that produce these items, it imports these parts from Japan as well. There is concern that in the case of a prolonged war, these important imports may not be available. Fearing that the Air Force may be unable to fulfill its tasks in the case of a prolonged war, the specificity rule suggests that the United States should
A. ban the importation of these electronics parts to protect jobs in this industry. B. subsidize the domestic production of these electronics parts. C. impose tariffs on the imports of these electronic parts. D. impose high taxes on the production of these electronic parts.