Tonya, who is rich, and Jerome, who is poorer, both buy orange juice and croissants for lunch at the student cafeteria. Their budget constraints on a diagram with orange juice on the vertical axis and croissants on the horizontal have the same
A) horizontal intercepts.
B) vertical intercepts.
C) slopes.
D) midpoints.
C
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Which of the following causes autonomous consumption to decrease?
A) a decrease in consumer income B) consumers becoming more optimistic about future decreases in the price level C) an increase in average family size D) consumers becoming more thrifty
The conflict between the Vice President of Marketing and her sales staff arises because
a. the sales staff are unwilling to offer discounts b. the Vice President does not want to negotiate aggressively enough to maximize profits c. the sales staff want to negotiate too aggressively d. the Vice President is more willing to offer discounts to make the sale
You would expect the price elasticity of demand for transportation generally to be:
A. less than price elasticity of the demand for bus tickets. B. the same as price elasticity of the demand for bus tickets. C. greater than price elasticity of the demand for bus tickets. D. greater than price elasticity of the demand for bus tickets when bus tickets are expensive, but less than price elasticity of the demand for bus tickets when the prices of bus tickets fall.
Fiscal policy is enacted through changes in:
A. Interest rates and the price level B. The supply of money and foreign exchange C. Unemployment and inflation D. Taxation and government spending