According to your textbook, efforts to free Sudanese slaves by buying them in the open market actually
A) increased supply of slaves, which lowered slave prices and increased the size of the slave market.
B) increased demand for slaves, which increased slave prices and increased the size of the slave market.
C) decreased supply of slaves, which increased slave prices and decreased the size of the slave market.
D) decreased demand for slaves, which decreased slave prices and decreased the size of the slave market.
B
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Refer to Figure 7.1. Suppose the city passes an ordinance banning loud music, and this directly impacts Angus's legal ability to play his bagpipes. The equilibrium outcome of this game will be for Angus to ________ and for Dudley to ________
A) play the bagpipes; do nothing B) play the bagpipes; call the police C) mop floors; do nothing D) Both B and C are correct.
The price elasticity of demand measures which of the following?
A) the slope of the demand curve B) the rate at which demand changes when price changes C) how responsive the quantity demanded is to changes in price D) the percentage-slope of the demand curve E) None of these correctly defines what price elasticity of demand measures.
If demand is linear, tax revenue rises at a constant rate as per unit taxes increase.
Answer the following statement true (T) or false (F)
Which of the following advances contributed to the "new economy" of the mid-1990s?
A) the increased use of the Internet in selling products and services B) the lower cost and increased availability of laptop computers C) expanded cell phone use D) all of the above