African governments wish to reduce the poaching of elephants, which is done to harvest the elephant’s ivory from its tusks. If this is the goal, economists would suggest that
A. a price ceiling for ivory should be set, to reduce the price in the market, which would discourage poaching.
B. governments continue to stockpile confiscated ivory, to keep it out of the market.
C. burning ivory reduces the supply, which would reduce the number of buyers.
D. confiscated tusks should be sold by governments because this would lower the price of ivory and reduce the reward to poachers.
Answer: D
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The new Keynesians believe that the economy is not always in equilibrium because:
a. of the existence of voluntary unemployment. b. the Federal Reserve policy is too restrictive. c. government intervention destabilizes the economy. d. of the existence of wage and price rigidities. e. the rate of inflation is too high.
Which of the following would cause a movement along the supply curve for cupcakes?
a. an improvement in technology for commercial mixers b. a decrease in the price of cupcakes c. an increase in the price of cake flour d. All of the above are correct.
If the price of the output produced by a particular type of labor decreases, which of the following shifts should occur in the labor market for the particular type of labor?
A. Demand for labor should shift to the right. B. Supply of labor should shift to the right. C. Demand for labor should shift to the left. D. Supply of labor should shift to the left.
Which word best characterizes the interaction among firms in any oligopoly?
a. cooperation b. collusion c. confrontation d. interdependence