The demand for Canadian maple syrup by a U.S. store is also a
A. demand for Canadian dollars.
B. supply of U.S. dollars.
C. supply of Canadian dollars.
D. demand for SDRs.
Answer: A
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Instead of throwing away a worn-out pair of jeans, a cowboy trades them in for $12 . The jeans are resold for $45 to someone who likes to project a rugged image. These transactions are Pareto improvements
a. True b. False
If the price elasticity of demand for a good is 4, then a 12 percent decrease in price results in a
a. 0.33 percent increase in the quantity demanded. b. 3 percent increase in the quantity demanded. c. 30 percent increase in the quantity demanded. d. 48 percent increase in the quantity demanded.
Elephant populations in some African countries have started to rise because
a. environmentalists have developed effective educational campaigns. b. the value of ivory has decreased. c. some elephants have been made a private good, and people are allowed to kill elephants on their own property. d. regulations are being enforced more forcefully.
Depreciation or consumption of fixed capital measures:
A. the decline in the value of inventories caused by inflation. B. the loss of productive ability due to capital intensive production. C. capital that is wasted in the production process. D. the value of existing capital stock used up in the production process.