Which of the following will cause the demand curve for Beatles' compact discs to shift to the right?
A) An increase in the price of the discs
B) A decrease in consumers' incomes
C) An increase in the price of Phil Collins' latest compact disc (a substitute)
D) all of the above
E) none of the above
C
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Suppose Jordan and Lee are trying to decide what to do on a Friday. Jordan would prefer to see a comedy while Lee would prefer to see a documentary. One documentary and one comedy are showing at the local cinema. The payoffs they receive from seeing the films either together or separately are shown in the payoff matrix below. Both Jordan and Lee know the information contained in the payoff matrix. They purchase their tickets simultaneously, ignorant of the other's choice. 
Which of the following statements is true?
A. For Lee, seeing a documentary is a dominant strategy. B. Lee does not have a dominant strategy. C. Lee's dominant strategy depends on Jordan's choice. D. For Lee, seeing a comedy is a dominant strategy.
Refer to Figure 7.1. If Angus chooses to earn the most money, he will receive a daily payoff of
A) $100. B) $350. C) $550. D) $700.
An increase in money supply causes the real interest rate to ________ and the price level to ________ in general equilibrium
A) rise; rise B) remain unchanged; fall C) remain unchanged; rise D) fall; fall
Which of the following is TRUE of an excise tax?
A) An excise tax is always a unit tax. B) An excise tax is levied on purchases of particular good or service. C) An excise tax is based on an individual's income. D) Imposing an excise tax shifts the market demand curve.