Refer to the accompanying figure. Moving from demand curve D1 to demand curve D2 could be caused by a(n):
A. decrease in the product's expected future price.
B. increase in the price of a complement.
C. increase in the price of a close substitute.
D. increase in quantity supplied.
Answer: C
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An increase in the employment tax should have a relatively small effect on output if the labor supply curve
A) is perfectly horizontal. B) has a positive slope. C) is relatively flat. D) is relatively stee
Refer to Scenario 12.1. Suppose that a third friend, Ryan, joins Simon and Paula on their way home from school, and this reduces the probability of any particular individual from stepping forward to help the man being attacked from 70% to 40%
What is the probability of either Simon, Paula, Ryan, or any combination of the three trying to rescue the man? A) 28.8% B) 49.6% C) 78.4% D) 93.6%
A decrease in consumer confidence can put your job at risk if
A) aggregate expenditures rise. B) aggregate expenditures fall. C) consumers expect firms to increase investment in the future. D) consumers expect their incomes to rise in the future.
A usual assumption in real business cycle models is that the economy is populated by a group of identical individuals and the behavior of the group can then be explained in terms of the behavior of one individual, called a(n)
a. maximizing agent. b. representative agent. c. republican agent. d. informative agent. e. democratic agent