Which is the main disadvantage of using shells as money instead of coins?
a. durability
b. portability
c. uniformity
d. divisibility
Ans: c. uniformity
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Use the following graph of the demand for coffee to answer the question below.
Refer to the three demand curves for coffee. Which of the following would shift the demand for coffee from D1 to D3?
A. an increase in income if coffee is a normal good B. an expected decrease in the price of coffee in the future C. a decrease in the price of coffee D. an increase in the number of buyers of coffee
Perhaps the most compelling argument against the redistribution of income is that __________.
a. it does not work b. it is unfair c. we cannot afford it
"Second-hand" smoke, an often cited disadvantage of allowing smoking in restaurants, is referred to in economics as a(n)
A) capital good. B) externality. C) economic cost. D) negative investment.
When a minimum-wage law forces the wage to remain above the level that balances supply and demand, the quantity of labor supplied is higher and the quantity demanded of labor is lower than at the equilibrium wage
a. True b. False Indicate whether the statement is true or false