"If the cost of college tuition goes up, then fewer people will go to college." This statement:
A. is always true.
B. is true only if for some students the cost of college after the tuition increase exceeds the benefits of attending college.
C. would never be true.
D. ignores the opportunity costs of attending college.
B. is true only if for some students the cost of college after the tuition increase exceeds the benefits of attending college.
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A) must increase the demand for money. B) might increase or decrease the demand for money. C) must decrease the demand for money. D) affect only the supply of money. E) have no effect on the demand for money or on the supply of money.
If individuals were paid for their household production, GDP would: a. increase
b. not change, but GNP would increase. c. decrease. d. not change, but GNP would decrease.
If the average total cost curve is falling, what is necessarily true of the marginal cost curve? If the average total cost curve is rising, what is necessarily true of the marginal cost curve?
A monopoly can be formed by a bandwagon effect. Which of the following products would most closely match the bandwagon effect?
A) the Atlanta Braves baseball club B) the Dell Computer C) the Apple iPod D) the Chevrolet Corvette