If demand increases and supply decreases, then equilibrium price must decrease, but equilibrium quantity is indeterminate
a. True
b. False
Indicate whether the statement is true or false
False
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The figure above shows the market for airline tickets. In early 2008 the price of jet fuel rose. This change is shown in the figure as a shift from
A) D0 to D1. B) D1 to D0. C) S0 to S1. D) S1 to S0.
During a recession, automatic stabilization causes the government budget deficit to
A) fall. B) increase. C) remain stable. D) move in the same direction as Y.
The predominate organizational form for U.S. hospitals is not-for-profit. Why?
a. The profit motive corrupts human behavior. b. For-profit hospitals do not provide charity care. c. Private not-for-profit hospitals engage in most of the medical research. d. The not-for-profit form provides the most benefits to physicians. e. All of the above.
If a coin toss comes up heads five times in a row, on the sixth flip the odds are better that this coin will come up tails
a. True b. False Indicate whether the statement is true or false