An important assumption made when constructing a demand curve is that
A. only price and quantity matter in determining the demand for a good.
B. people always want a certain amount of the good.
C. demand is always dependent on the supply of a good.
D. all other determinants of demand are held constant.
E. the demand curve has a positive slope.
Answer: D
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Exports are:
A) positively related to the level of foreign income and negatively related to the exchange rate. B) positively related to the level of foreign income and positively related to the exchange rate. C) negatively related to the level of foreign income and negatively related to the exchange rate. D) negatively related to the level of foreign income and positively related to the exchange rate.
Social Security and Medicare are clear examples of
A) capitalism. B) market-determined services. C) market failures and externalities. D) governmental intervention in the market.
The median-voter theorem would suggest the reason politicians go from extreme to moderate positions on an issue over the course of an election is because they are appealing to the:
A. average voter in their party in the primary, and the average of all voters in the general election. B. majority of voters in their party in the primary, and the majority of all voters in the general election. C. median voter in their party in the primary, and the median of all voters in the general election. D. people in their party and opposing party.
Dumping is a trade practice in which countries sell goods in a foreign market at cheaper prices than the goods can be produced domestically
a. True b. False Indicate whether the statement is true or false