A society’s decision to produce more tanks may require it to reduce the production of some cars.
Answer the following statement true (T) or false (F)
True
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What are the five most important variables that cause the market demand curve for labor to shift?
What will be an ideal response?
The above figure shows Bobby's indifference map for juice and snacks. Also shown are three budget lines resulting from different prices for snacks. Bobby's demand for snacks is
A) unit elastic. B) elastic. C) inelastic. D) perfectly elastic.
A cost of an activity that falls on people not engaged in the activity is called a(n):
A. negative externality. B. prisoner's dilemma. C. positive externality. D. external benefit.
Consider a consumer who is searching for the lowest price for good X. The consumer knows that 75 percent of the time she will find a store charging $10 and 25 percent of the times she will find a store charging $7. The consumer will search again if her marginal cost of searching is constant and is:
A. between $1.00 and $2.25. B. strictly higher than $3. C. exactly $0. D. lower than or equal to $0.75.