It is common knowledge that many U.S. national parks have become overused. One possible solution to this problem is to
a. increase entrance fees.
b. decrease camping permit fees.
c. require all visitors to register upon entering the park.
d. sell the land that the parks currently occupy.
a
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The interest rate effect on aggregate demand indicates that a(n) ________.
A. decrease in the price level will decrease the demand for money, decrease interest rates, and increase consumption and investment spending B. increase in the supply of money will increase interest rates and decrease interest-sensitive consumption and investment spending C. increase in the price level will decrease the demand for money, reduce interest rates, and decrease consumption and investment spending D. decrease in the price level will increase the demand for money, increase interest rates, and decrease consumption and investment spending
For each pair of goods, explain which is more elastic: toothpicks vs. cars; electricity vs. yachts; IBM computers vs. Apple computers
Refer to Figure 6.5. The substitution effect is shown by the movement:
A. from point A to point B.
B. from point A to point C.
C. from point B to point C.
D. from point B to point A.
Consider an industry with two firms producing similar products. Each firm's total cost (in dollars) is given below.Mega Corp: TC = 5,000 + 100QBig Inc: TC = 4,000 + 200QIf each firm produces 10 units, Mega Corp's total cost will be ________, and Big Inc's total cost will be ________.
A. $15,000; $14,200 B. $5,000; $4,000 C. $5,100; $4,200 D. $6,000; $6,000