If price levels are rising rapidly and erratically, you may not commit to long term commitments because of...
What will be an ideal response?
uncertainty about future costs
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Miniville is an isolated town located on the southern shore of Lake Condescending, a very large lake. The western edge of Miniville is adjacent to impassable mountains and there are no towns or businesses for many miles to the east. The 300 residents of Miniville are evenly distributed along 3 miles of shoreline on the lake, east of the mountains. Lake Shore Drive, the only street in town, provides access to Miniville's homes and businesses. All residents live between the lake and the street; businesses locate on the other side of the street. Lake Shore Drive is 3 miles long, and the points labeled A, B, and C are 1, 2, and 3 miles from the western end of Lake Shore Drive, respectively. All residents of Miniville shop at the store located closest to their homes. src="https://sciemce.com/media/4/ppg__1420829190927__f1q534g1.jpg" alt="" style="vertical-align: 0.0px;" height="94" width="384" /> If one store is located at A and the other store is located at C:
A. 100 people will shop at the store at A, and 200 people will shop at the store at C.
B. 100 people will certainly shop at each store, but where the other 100 will shop is indeterminant.
C. 150 people will shop at each store.
D. 200 people will shop at the store at A, and 100 people will shop at the store at C.
A market for a product is in equilibrium when:
a. Quantity supplied equals quantity demanded b. Quantity demanded is greater than quantity supplied c. The supply curve remains fixed d. Product price equals demand
The equality-efficiency trade-off refers to:
A.the conflict between risk averters and risk-takers.
B.the willingness of Congress to abandon existing welfare programs in favor of a comprehensive plan to increase education and training for low-income persons.
C.possible conflicts between the goals of economic efficiency and greater income equality.
D.the difference between the goals of income equality and equality of economic opportunity.
Refer to the above table. Amy's utility schedule shows
A. initially decreasing marginal utility and then increasing marginal utility. B. diminishing marginal utility throughout her entire schedule. C. increasing marginal utility throughout her entire schedule. D. initially increasing marginal utility and then decreasing marginal utility.