Buyers who were originally willing to buy 800 units of a good at $4 per unit are now willing to buy 1200 units at $4 per unit. That change would be described as:
a. an increase in demand
b. a decrease in demand.
c. an increase in quantity demanded.
d. a decrease in quantity demanded.
a
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An unexpected rise in the growth rate of the CPI should send bond prices __________ and stock prices __________
A) up; up B) up; down C) down; up D) down; down
The percentage of our population below the poverty line is about _____%.
Fill in the blank(s) with the appropriate word(s).
Adverse selection:
A. occurs after the parties have entered into an agreement. B. is about the actions of people. C. results from unobserved characteristics of people or commodities. D. All of these statements are true.
Suppose everyone in a town votes that they prefer improved public transportation systems instead of public parks. According to the criteria of independence of irrelevant alternatives that preference should ________ even if a third option not likely to win, like a public zoo, is included in the vote.
A. change to the median B. change to the majority C. stay the same D. change to the average