Which of the following pairs is the best example of substitutes?
a. coffee and cream
b. videotapes and VCRs
c. honey and biscuits
d. bread and butter
e. butter and margarine
E
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Leaving a handsome tip for the waiter in full view of your dinner date is a
a. Screening mechanism b. Signaling mechanism c. Way to waste money d. None of the above
Why do policymakers have the goal of stable prices?
a. Stables prices always keep the economy in expansion b. Firms make too much money when prices are rising c. Inflation is always associated with wars d. Inflation imposes costs on society e. Inflation is always associated with trade deficits
Kara receives a promotion at work, which increases her income. We would expect Kara’s demand for
a. each good she purchases to remain unchanged.
b. normal goods to decrease.
c. substitute goods to increase.
d. inferior goods to decrease.
The productivity rose rapidly between 1950 and 2000 through use of carbon-based energy and the lighting of factories (allowing for 24/7/365 operations), and this
A. was entirely countered by an opposite trend among men so growth, was slow. B. was more than countered by an opposite trend among men so growth, was negative. C. should have been a source of growth but wasn't. D. was a significant source of economic growth during that period.