When an economist states that "price changes cause quantity changes ceteris paribus", she is stating that price changes cause quantity changes
A. only in theory.
B. always.
C. all else equal.
D. only in efficient markets.
Answer: C
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________ increases the quantity of real GDP supplied and is shown as a movement along the AS curve
A) An increase in potential GDP B) A decrease in the quantity of money C) A rise in the price level D) A decrease in consumption expenditure E) A fall in the expected rate of profit
If all players in a game have a dominant strategy, then there can only be one pure strategy Nash equilibrium to the game.
Answer the following statement true (T) or false (F)
As the housing bubble collapsed, as more foreclosures occurred, and the supply of homes for sale:
A. increased, it further decreased home values, which led to more foreclosures. B. increased, the price of homes fell, and so the demand for homes increased. C. decreased, as homeowners no longer wanted to sell their homes when prices were low. D. decreased, as homeowners refused to sell when they owed more than the market value.
Harry is a computer company executive, earning $200 per hour managing the company and promoting its products. His daughter Quinn is a high school student, earning $6 per hour helping her grandmother on the farm. Harry's computer is broken. He can repair it himself in one hour. Quinn can repair it in 10 hours. Harry's opportunity cost of repairing the computer is lower than Quinn's
a. True b. False Indicate whether the statement is true or false