What is meant by the term Odious Debt"?
What will be an ideal response?
Discussed in Box 13.4 "Odious Debt and Prevention."
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When the supply (curve) of a product increases,
A) suppliers change their plans. B) demanders change their plans. C) the price changes. D) all of the above occur. E) none of the above occur.
Suppose that when the price of raspberries increases, Lonnie increases his purchases of papayas. To Lonnie
A) raspberries and papayas are substitutes. B) raspberries and papayas are complements. C) raspberries and papayas are normal goods. D) raspberries and papayas are inferior goods.
Suppose Evan and Robert are each filling out a separate survey about parking on campus. On Evan's survey, the first question asks about whether he thinks the fine for parking illegally on campus should be $50, and on Robert's survey the first question asks about whether he thinks the fine should be $100. For both Evan and Robert, the second question asks how much each thinks the fine currently is. If Evan and Robert know nothing about the parking fines on campus, but each uses anchoring and adjustment to form his assessment, then, all else equal, you would expect:
A. Robert's estimate of the current fine to be higher than Evan's. B. Evan's estimate of the current fine to be higher than Robert's. C. their estimates to be identical. D. both of them to guess a number between $50 and $100.
Publicly provided health insurance for the poor will
A. raise the price of health care to the non-poor. B. decrease the total amount of health care consumed. C. raise the price of health care to the non-poor and decrease the total amount of health care consumed. D. raise the level of health care consumed by the non-poor.