A Tiebout model involves
A. completely mobile individuals.
B. governments generating no externalities.
C. perfect information.
D. all of these answer options are correct.
D. all of these answer options are correct.
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Describe briefly how the final value of an iPhone must be equal to the sum of incomes generated by the production of the iPhone
What will be an ideal response?
The equilibrium price and quantity of a good, once attained, will
a. change only if either supply or demand changes b. change only if both supply and demand change c. change only if supply changes d. change only if demand changes e. never change
The two Keynesian assumptions in the aggregate supply and aggregate demand model are the importance of:
a. aggregate demand and the stickiness of wages and prices. b. aggregate supply and the stickiness of wages and prices. c. aggregate demand and the flexibility of wages and prices. d. aggregate supply and the flexibility of wages and prices.
Consider the parallel demand curves in the following graph to answer the question.
Which curve is relatively more elastic at P1?
A. AA B. BB C. It cannot be determined. D. Both have the same slope; therefore both have the same elasticity.