Keynes argued that when interest rates were low relative to some normal value, people would expect bond prices to ________ so the quantity of money demanded would ________
A) increase; increase
B) increase; decrease
C) decrease; increase
D) decrease; decrease
C
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Why do firms engage in price discrimination?
A) to decrease cost B) to increase profits C) to increase consumer surplus D) to prohibit the resale of their products
Answer the following statements true (T) or false (F)
1) Industry advertisements work to promote specific brands. 2) Industrywide advertising is an example of a public good. 3) A hot dog sold by a street hot dog vendor is an example of a public good. 4) The quantity of advertising that maximizes the industrywide joint profit, is the quantity that sets the industry wide marginal benefit equal to the marginal cost. 5) If Icy Treats is a large Italian ice dessert chain with franchises located throughout the United States, it is likely that each franchise will have the same advertising marginal benefit schedule.
What type of relationship does the law of demand demonstrate?
A) direct B) positive C) inverse D) static
Jamestown's early years were marked by
a. a focus on futile "get rich quick" schemes. b. collective operations under which production methods and consumption were shared. c. lack of local control over production decisions. d. extremely high mortality rates. e. All of the above.