Which of the following would lead to a rise in demand for recordable DVDs by students?
a. An increase in the number of DVD manufacturers.
b. A decrease in the price of DVD recording devices.
c. A decrease in the price of the DVD making machinery.
d. A cut in the number of student workers hired by the university, lowering student incomes.
b. A decrease in the price of DVD recording devices.
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The prisoners' dilemma has an equilibrium that is
A) a Nash equilibrium and both players confess. B) not a Nash equilibrium and both players confess. C) a Nash equilibrium and both players deny. D) not a Nash equilibrium and both players deny.
If a consumer is maximizing his/her utility for a given income, the:
a. marginal utility for every good purchased would be the same. b. marginal utility per dollar spent for all goods would be the same. c. marginal utility per dollar for all goods would be at a maximum. d. total expenditure on each good would be the same. e. number of units of each good consumed would be the same.
In a capitalist market economy, the decision to save is made by the same people who make the major investment decisions
a. True b. False Indicate whether the statement is true or false
Which of the following statements is not correct?
a. Welfare programs may encourage illegitimate births. b. The decline in welfare benefits since the 1970s has been associated with a decline in the percentage of children living with a single parent. c. Welfare programs may reduce incentives for people to work. d. A negative income tax program uses tax revenues collected from high-income families to provide cash subsidies to low-income families.