If the price of Pepsi decreases, other factors constant, then we'd expect to see a consequent shift of the demand curve for:
A. Coke to the left
B. Coke to the right
C. Pepsi to the left
D. Pepsi to the right
Answer: A
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If the quantity of one good that must be forgone increases as successive units of another good are produced, then there is said to be increasing opportunity cost between the two goods
a. True b. False Indicate whether the statement is true or false
An example of a public transfer payment is a(n):
a. Veteran's benefit payment b. Airline pass giving price discounts to senior citizens c. Monthly subsidy from home for a university student d. Gift of land from a wealthy relative
A lender obtains funds from depositors by offering short-term interest rates on savings accounts. The lender uses these funds to make longer-term installment loans. Explain how the lender might make use of the futures market to hedge the risk taken.
What will be an ideal response?
Drawing conclusions from international comparisons of GDP are difficult to assess because
A) GDP is understated in poorer countries because much of the work that people do is not provided in markets. B) GDP cannot be adequately evaluated as a measure of people's welfare or well-being. C) without adjusting for purchasing power parity, GDP comparisons might very well be meaningless. D) all the above reasons hold true.