All of the following will affect the position of the demand curve EXCEPT
A) income.
B) taste and preference.
C) changes in expectations of future relative prices.
D) prices of resources used to produce the product.
D
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If a university begins a policy of permanently expelling any student caught cheating in any way, you would expect that: a. no students would cheat
b. fewer students would cheat. c. major cases of cheating would become a larger fraction of all cases of cheating attempted. d. Both b. and c. would occur.
Applying the concept of labor specialization to international trade, if all countries specialize in producing what they do relatively best,
a. each country could become self-sufficient b. international specialization and exchange will benefit the producers but harm the consumers c. consumers are better off, but producers are worse off d. inefficiency in production occurs because specialization, although allowing for moreproduction, causes people to know less about the "big picture" e. there will be more goods produced, exchanged, and consumed
The primary effect of rent control in the short run is to reduce rents
a. True b. False Indicate whether the statement is true or false
Refer to the accompanying figure. A decrease in demand is represented by a shift from:
A. curve B to curve A. B. curve C to curve D. C. curve D to curve C. D. curve A to curve B.