Economic analysis is used
A) only by instructors and students in economics to understand the world.
B) only by business people to raise profits.
C) only by policy makers to make policy decisions.
D) in all decision making.
Answer: D
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The change in the quantity demanded of a good resulting from a change in relative price with the level of satisfaction held constant is called the ________ effect
A) Giffen B) real price C) income D) substitution
If the interest rate were 10 percent, how much would people be willing to pay for a stock that was certain to yield a $2 per share stream of net earnings continuously in the future?
a. $2 b. $10 c. $20 d. $100
An increase in expected future income will:
a. Increase aggregate demand b. Decrease aggregate demand and aggregate supply c. Increase aggregate supply d. Increase aggregate demand and aggregate supply
A "rational terrorist" will react to the increased security at U.S. airports by
A. attacking U.S. airports. B. attacking other highly-defended targets. C. ending all attacks. D. attacking other high value U.S. interests outside the U.S.