If a city were to ban the use of automobiles within its city limits, we would expect
A) the demand curve for automobiles to shift to the left.
B) people to move to another city.
C) the demand curve for bicycles to shift to the left.
D) the demand curve for automobiles to remain the same.
A
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Use the following table, which lists output quantities and prices for the only three goods in the economy, to answer the next question. The base year is 2007.YearHot DogsBaseballsBottles of Beer?PriceQuantityPriceQuantityPriceQuantity2005$2.50100$2.5050$1.0010020064.001005.001002.0015020075.001005.001002.0020020088.001508.002004.00200200910.0020010.002004.00250The Consumer Price Index for the year 2005 is
A. 150. B. 100. C. 50. D. 200.
The Solow model emphasizes the role of which of the following factors of production?
A) land B) labor C) capital D) natural resources
Centrally planned economies use free-market systems for their production planning.
Answer the following statement true (T) or false (F)
Most markets involve the use of money for transactions because:
a. goods and services can be exchanged more easily with money than without it. b. goods and services cannot be exchanged without money. c. using money requires a double coincidence of wants. d. the transaction costs of using money are very high. e. the value of money remains same across countries over time.