A decrease in the price of ice cream is likely to cause:
A. an increase in the demand for ice cream cones due to a change in the price of a complementary good.
B. an increase in the demand for ice cream cones due to a change in the preferences of consumers.
C. an increase in the demand for ice cream cones due to a change in the price of a substitute good.
D. a decrease in the demand for ice cream cones due to a change in the price of a related good.
Answer: A
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Long-term productivity growth trends have resulted in the
a. increased predominance of the British economy. b. relative decline of the U.S. relative to the U.K. c. relative decline of the Japanese economy. d. relative growth of the Japanese economy.
If the production possibilities frontier was a straight line, the same resources would be used in the same amounts to produce all goods
a. True b. False Indicate whether the statement is true or false
Which one of the following statements is false?
a. Global warming and ocean pollution are examples of global commons issues b. Solving problems with global commons usually requires international cooperation c. Problems with the global commons are becoming more prevalent as human economic activity increases d. Problems with global commons occur because countries view their global environmental impacts as externalities e. Solving problems involving global commons is not possible because of free rider effects
Wealth in the United States is:
A. distributed in a way that reduces the degree of income inequality. B. more unequally distributed than is income. C. less unequally distributed than is income. D. distributed in a way that has no effect on income inequality.