Women in poor countries are more likely to experience all of the following except
A. Being paid less than men.
B. Being prohibited from bringing a dowry to a marriage.
C. Restricted property rights.
D. Prohibitions against voting.
Answer: B
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Suppose the value of income elasticity of demand for a private college education is equal to 1.5 . This means that
a. every $1 increase in income provides an incentive for a $1.50 increase in expenditures on private college education b. every $1.50 increase in income provides an incentive for a $1 increase in expenditures on private college education c. a 10 percent increase in income causes a 15 percent increase in the quantity of private college education purchased d. a 15 percent increase in income causes a 10 percent increase in the quantity of private college education purchased e. a 10 percent decrease in private college tuition will have a large enough income effect to increase spending on private college education by 15 percent
Explain why a monopolist must lower its quantity relative to a competitive market to maximize its profits.
What will be an ideal response?
In Year 1, the price level was 120 and the average nominal income was $30,000. In Year 2, the price level was 125 and the average nominal level of income was $32,000. What happened to real income from Year 1 to Year 2?
A. It fell by $400 B. It rose by $400 C. It rose by $600 D. It rose by $2,000
Refer to Figure 10.1. The dominant strategy for ________ is to contribute
A) Daisy B) Bo C) Luke D) none of the above