According to the law of demand,
A) everything has its price.
B) human wants are insatiable.
C) people will do anything to obtain goods they want.
D) there are no free goods.
E) there is a negative relationship between the amount of anything people will purchase and the sacrifice that must make to obtain it.
E
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Which of the following would tend to increase the demand for college textbooks?
A) A lower price of college textbooks B) An increase in the number of enrolled college students C) A significant increase in college tuition D) Both A and B
If a member of a cartel is the first to alert authorities to the cartel behavior, which of the following will occur to this member firm?
A) The firm will face significant fines. B) The firm's most senior managers will face jail time. C) The firm will not be considered whistle -blowers. D) The firm will not be penalized.
When the ultimatum game is played for larger rather than smaller amounts of money, behavioral economists have found that when the proposed splits are very uneven:
A. responders are much more likely to accept the offer because of the amount of money involved. B. responders are no more likely to accept the offer if they consider the split to be unfair. C. responders are much less likely to accept the offer because their sense of unfairness is heightened with larger amounts of money. D. responders will accept offers at a higher rate but will exact greater emotional penalties on the proposer.
Which of the following would not be studied in macroeconomics?
A. How a sharp increase in gasoline prices is likely to affect SUV sales. B. The causes of the Great Depression. C. The growth rate of the US economy. D. The impact of government spending on the economy.