The "other things being equal" clause in the law of demand does allow which of the following factors to change?
A. Consumer income.
B. The prices of other goods.
C. Consumer tastes and preferences.
D. The price of the good being demanded.
Answer: D
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A decrease in the price of driver liability insurance will ________ the ________ for new automobiles
A) decrease; demand B) increase; demand C) decrease; supply D) increase; supply E) None of the above is correct.
Does inoculation against chicken pox have both private and external benefits?
What will be an ideal response?
Daniel was just laid off from his teaching job at the local high school due to state budget cuts resulting from the reduction in tax revenue during the recent economic downturn. Daniel would best be categorized as
A) frictionally unemployed. B) structurally unemployed. C) cyclically unemployed. D) seasonally unemployed.
A defendant believes there is an 80 percent chance that the plaintiff will win $1,000,000 and a 20 percent chance that the plaintiff will lose and be awarded nothing (zero). The plaintiff believes that there is a 90 percent chance that they will win $1,000,000 and a 10 percent chance that they will be awarded nothing (zero). The plaintiff's litigation cost is $500,000 and the defendant's
litigation cost is $400,000. The defendant would be willing to pay any amount up to ________ to settle. $1,000,000 B) $1,200,000 C) $900,000 D) $800,000