Jeff decides that he would pay as much as $2,000 for a new laptop computer. He buys the computer and realizes a consumer surplus of $300 . How much did Jeff pay for his computer?
a. $300.
b. $1,700.
c. $2,000.
d. $2,300.
b
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The demand curve for U.S. dollars slopes downward because as the dollar ________ U.S. goods become ________ expensive to foreign residents, so they purchase fewer U.S. goods, and the quantity of dollars demanded decreases
A) appreciates; more B) appreciates; less C) depreciates; more D) depreciates; less
Non-activists
A) distrust the ability of the political process to formulate sensible economic policy. B) argue for a constant-growth-rate rule for the money supply. C) argue that more unemployment now may prevent a lot more unemployment in the future. D) All of the above.
You can invest $100,000 into either project A or B. You estimate that A would succeed with a probability of 0.5 in which case it doubles in value. If it fails, its scrap value is $50,000 . Project B would succeed with probability 0.8, in which case it would have a value of $150,000 . If it fails, project B's scrap value is $30,000 . Which project should you invest in?
a. Project A b. Project B c. Neither of the projects d. You cannot tell from the information presented
According to the theory of creative destruction,
a. hurricanes and tornadoes stimulate the economy b. technological change destroys competitive markets c. monopolies engage in self-destructive behavior d. competition between industries can break a monopoly e. price wars break out when new products are introduced