A government wants to reduce electricity consumption by 10%. The price elasticity of demand for electricity is -5. The government must ________ the price of electricity by ________.
A. raise; 0.5%
B. raise; 2.0%
C. raise; 1.25%
D. lower; 0.5%
Answer: B
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Assume there are two competing social network sites, Mugshot and Graybar, and each grow in value as more people use them
Mugshot has been around longer and has the most users, but people tend to agree that Graybar is a better site, so the equilibrium where everyone uses Graybar is preferred to the equilibrium where everyone uses Mugshot. This situation describes a multiplayer A) assurance game. B) prisoner's dilemma game. C) battle of the sexes game. D) pure coordination game.
At the federal level, transfer payments make up ________
A) about 98 percent of total outlays B) about half of total outlays C) less than one percent of total outlays D) the gap between government purchases and borrowing
The Federal Reserve's most important function is to change the money supply in order to smooth out the business cycle
a. True b. False Indicate whether the statement is true or false
Which of the following is true of The Stigma of the Newcomer?
A. It is less common today than it was several generations ago. B. It is more relevant today because neighbors do not know each other well. C. It would be more likely to occur in New York City than in a rural community in Iowa. D. It relates to the introduction of new technology so none of the answers are correct.