A decrease in the price of leather used to make shoes would cause the
a. demand for shoes to decrease.
b. demand for shoes to increase.
c. supply of shoes to decrease.
d. supply of shoes to increase.
D
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Everyone in the neighborhood has been complaining about the deteriorating condition of the park, but nobody has cleaned it up. Why not?
A. No single person's benefit from cleaning the park exceeds that person's cost of cleaning it. B. There is an excess demand for parks in the neighborhood. C. There is an excess supply of parks in the neighborhood. D. The social benefit of cleaning the park exceeds the social cost of cleaning it.
The above table gives the total utility that Homer obtains from consuming various quantities of chocolate chip cookies. The marginal utility from the third pound of cookies is
A) 3. B) 4. C) 9. D) 12.
Which of the following could decrease unemployment and inflation simultaneously?
A) a decrease in oil prices B) contractionary monetary policy C) an increase in the real wage D) expansionary monetary policy
The United States is less dependent on trade than most other countries because
A) the United States is a relatively large country with diverse resources. B) the United States is a "Superpower." C) the military power of the United States makes it less dependent on anything. D) the United States invests in many other countries. E) many countries invest in the United States.