Suppose the demand for calendars increases in November. At the same time, the price of the ink used in the production of calendars increases. In the market for calendars, the equilibrium price rises, but the effect on the equilibrium quantity is ambiguous
a. True
b. False
Indicate whether the statement is true or false
True
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Probability is sometimes defined as
a. the expected profit of a fair bet. b. the most likely outcome of a given experiment. c. the outcome that will occur on average for a given experiment. d. the relative frequency with which an event will occur.
How could Raymond’s late-night behavior create a negative externality for his roommates?
a. if he practices his clarinet and prevents them from sleeping b. if he stays quietly in his own room and does not come out c. if he cleans the apartment and does their laundry while they sleep d. if he goes online and pays their utility bills and rent for the month
Holding other factors constant, if new environmental regulations increase firms' cost of operating capital, then the real interest rate will ________ and the equilibrium quantity of national saving and investment will ________.
A. increase; decrease B. increase; increase C. decrease; decrease D. decrease; increase
During this century, court decisions on antitrust have:
A. changed from per se, to rule of reason, and back to per se. B. changed from rule of reason, to per se, and back to rule of reason. C. always emphasized per se. D. always emphasized rule of reason.