In the Case in Point on campus parking, the implication was that existing prices for parking spaces on university campuses are generally:
A) too high.
B) too low.
C) about right.
D) unconscionable.
Ans: B) too low.
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For an asset to be a "means of payment," the asset
A) is valuable and backed by gold. B) can be used to settle a debt. C) is valuable and backed by the government. D) requires a double coincidence of wants. E) must be used when bartering.
Teddy buys only chocolate chip cookies and hot chocolate and spends all of his income on the two items. Suppose that Teddy's marginal utility per dollar from cookies exceeds that from hot chocolate. Teddy can make himself better off if he buys
A) more cookies and less hot chocolate. B) fewer cookies and more hot chocolate. C) an equal amount of cookies and hot chocolate. D) only hot chocolate.
Refer to the demand and supply equations. At a price of $5, there will be ________
Fill in the blank(s) with correct word
There was an economic depression in the U.S in 1893 that some people blamed on the gold standard
Indicate whether the statement is true or false