Holding everything else constant, an increase in the price of raisins will result in
A) an increase in the quantity of raisins demanded. B) a decrease in the quantity of raisins demanded.
C) an increase in the demand for raisins. D) a decrease in the supply of raisins.
B
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Comparing the California test scores to test scores in Massachusetts is appropriate for external validity if
A) Massachusetts also allowed beach walking to be an appropriate P.E. activity. B) the two income distributions were very similar. C) the student-to-teacher ratio did not differ by more than five on average. D) the institutional settings in California and Massachusetts, such as organization in classroom instruction and curriculum, were similar in the two states.
When a firm is a price searcher, its marginal revenue is
a. equal to price because the firm's demand curve is perfectly elastic. b. equal to price if, and only if, the firm is maximizing profits. c. less than price when the firm is maximizing profits. d. equal to average total cost at the long-run equilibrium output rate.
The Islamic country that is attracting attention because of its rapid growth:
a. Egypt b. Iran c. Pakistan d. Turkey e. None of the above
Monopolies are characterized by a firm demand curve that is more elastic than the market demand curve.
Answer the following statement true (T) or false (F)