Recall the Application about the decrease in taxes on cigarettes in several Canadian provinces in 1994 to answer the following question(s). According to this Application, after the government deceased cigarette taxes in several Canadian provinces, demand for cigarettes ________ in these provinces, shifting the demand curve to the ________.
A. increased; right
B. increased; left
C. decreased; right
D. decreased; left
Answer: A
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Jack wants to buy a new house. But the surge in housing demand over the last few months has led to a sharp increase in housing prices making it impossible for him to afford one on his current income. This is an example of a ________
A) positive externality B) negative externality C) pecuniary externality D) conspicuous externality
In the United States, the money for loans to businesses comes mainly from
a. corporate profits. b. the federal government. c. savings held in lending institutions. d. state and local governments.
If a binding price floor is imposed on the market for eBooks, then
a. the demand for eBooks will decrease. b. the supply of eBooks will increase. c. a surplus of eBooks will develop. d. All of the above are correct.
A person is given the opportunity to volunteer at a local food bank. They consider the other things they could do at that time, such as cleaning and watching TV. They know that the work that they do could really benefit people at the food bank, whereas the other activities only benefit themselves. They decide that the service is the best decision for them. What type of ethical theory does their though process and decision follow?
a. rule utilitarianism b. act utilitarianism c. deontological theory d. ethical egoism