Assume the price of a movie is $10. Jenna demands 2 movies per week, Sam demands 3 movies per week, and Jordan demands 8 movies per week. From this information we can conclude that
A) the market quantity demanded at a price of $10 is at least 13 movies per week.
B) Jordan is obviously more wealthy than either Sam or Jenna.
C) Sam is irrational compared to Jenna or Jordan.
D) the movie industry is unprofitable.
A
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An introductory course in economics should allow a student to
A. turn into an economist. B. develop solutions to most social problems. C. answer all complex social questions. D. make rational decisions. E. All of these responses are correct.
If oil refiners expect the government to tax away any profits created by international supply disruptions, refiners will choose to
A) carry smaller inventories of crude petroleum. B) leave the oil refining business. C) prevent the price of crude petroleum from rising. D) raise their prices to cover their added risks. E) take a higher percentage of their profits as windfalls.
Managers' pursuit of which of the following objectives would NOT lead to a principal-agent problem in a corporation?
A) The corporation's growth B) Increased market share for the corporation C) The maximum possible profit for the corporation D) A great "golden parachute" or retirement package E) Increased current salary and fringe benefits
If U.S. monetary authorities want to strengthen the dollar, they will
a. sell dollars in the foreign exchange market b. buy dollars in the foreign exchange market c. declare the dollar devalued d. sell dollars and buy only Euros in the foreign exchange market e. encourage other central bankers to sell dollars in the foreign exchange market