Assuming everything else stays the same, an increase in the price of laptop computers will __________ of laptop computers.
a) decrease the quantity demanded
b) increase the demand
c) increase the quantity demanded
d) decrease the demand
a) decrease the quantity demanded
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The transcontinental railroads were completed in the 25 years
A. before the Civil War. B. after the Civil War. C. after 1890. D. after the 20th century began.
For any firm, price always equals
A. average revenue. B. marginal revenue. C. marginal cost. D. marginal profit.
Any policy change that results in a Pareto-superior allocation
A) will increase welfare under certain conditions. B) must increase welfare. C) will leave welfare unchanged. D) will have an unpredictable effect on welfare.
Ricardian equivalence can be said to hold if:
a. taxation has greater effect on private spending than government borrowing. b. taxation has a lesser effect on private spending than government borrowing. c. government borrowing does not affect private consumption while taxation has a negative impact on private consumption. d. government spending activities financed by taxation and those financed by borrowing have the same effect on private spending. e. government spending activities financed by taxation and those financed by borrowing have no effect on private spending.