If an environmental group wanted to prevent the habitat destruction of the Wyoming pocket gopher, the Coase theorem would direct the group to
A) try to get laws enacted to protect the species.
B) bargain in order to obtain the property rights of the gopher habitat.
C) physically block any efforts to destroy the habitat.
D) protest the destruction while gaining media attention for their cause.
B
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Suppose the price elasticity of teenagers' demand for cigarettes is 2.0. If the government imposes a tax on cigarettes that raises the price by 10 percent, by how much will it reduce teenaged smoking?
A) by 5 percent B) by 10 percent C) by 15 percent D) by 20 percent
An unexpected fall in durable goods orders should send bond prices __________ and stock prices __________
A) up; up B) up; down C) down; up D) down; down
The exchange rate changed from € 2.5/ $ to € 2.0/ $. Therefore:
a. The euro appreciated by 25% and the dollar depreciated by 20%. b. The euro appreciated by 25% and the dollar depreciated by 25%. c. The euro depreciated by 25% and the dollar appreciated by 25%. d. The euro appreciated by 20% and the dollar depreciated by 25%. e. The euro depreciated by 20% and the dollar appreciated by 20%.
?Refer to Exhibit 4-3. The University Theater faces market demand curve D0 and has begun charging $10, up from $5, for tickets for Friday and Saturday night shows. As a result, students have
A. increased their demand for tickets to Q4. B. increased their quantity of tickets demanded to Q4. C. decreased their demand for tickets to Q1. D. decreased their quantity of tickets demanded to Q1.