If cheese spreads and butter are substitutes, an increase in the price of butter will:
a. shift the demand curve for cheese spreads upward.
b. shift the demand curve for cheese spreads downward.
c. shift the demand curve for butter upwards.
d. shift the demand curve for butter downward.
A
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The main attractive feature of a negative income tax program is
a. it is politically clean and simple b. it keeps the IRS out of the picture c. it avoids cash payments to the poor d. it is totally financed out of the incomes of the poor creating for them a sense of individual responsibility e. it only subsidizes the unemployed
The United States has approximately
A. 100,000 businesses. B. 5.1 million businesses. C. 14 million businesses. D. 30 million businesses.
A typical behavior that violates the assumption of rational behavior is:
A. saying you want to lose weight, but ordering dessert. B. being willing to pay more for something if you use a credit card than if you use cash. C. stubbornly watching to the end of a movie you've decided you're not enjoying at all. D. All of these demonstrate irrational behavior.
A tradeoff exists between a clean environment and a higher level of income in that
a. studies show that individuals with higher levels of income actually pollute less than low-income individuals. b. efforts to reduce pollution typically are not completely successful. c. laws that reduce pollution raise costs of production and reduce incomes. d. by employing individuals to clean up pollution, employment and income both rise.