If the population doubles in size, what can be expected to happen to the market for automobiles?
a. Automobile manufacturers will decrease supply.
b. The price of automobiles will decrease.
c. More automobiles will be sold at any given price.
d. People will use fewer automobiles.
e. None of these.
Answer: c. More automobiles will be sold at any given price.
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In 2014, the price of peanuts was rising, which lead peanut butter sellers and peanut butter buyers to expect the price of peanut butter would rise in the future. In the current market for peanut butter, the price falls and the quantity decreases
This set of results means that A) supply decreased by more than demand increased. B) demand increased by more than supply decreased. C) demand increased by more than supply increased. D) supply decreased by more than demand decreased.
Other things the same, which of the following responses would we expect from an increase in U.S. interest rates?
a. Your aunt puts more money in her savings account. b. Foreign citizens decide to buy fewer U.S. bonds. c. You decide to purchase a new oven for your cookie factory. d. All of the above are correct.
Suppose Jordan and Lee are trying to decide what to do on a Friday. Jordan would prefer to see a comedy while Lee would prefer to see a documentary. One documentary and one comedy are showing at the local cinema. The payoffs they receive from seeing the films either together or separately are shown in the payoff matrix below. Both Jordan and Lee know the information contained in the payoff matrix. They purchase their tickets simultaneously, ignorant of the other's choice.
Which of the following statements is true?
A. Jordan does not have a dominant strategy. B. Jordon's dominant strategy depends on Lee's choice. C. For Jordan, seeing a documentary is a dominant strategy. D. For Jordan, seeing a comedy is a dominant strategy.
The unemployment rate is
What will be an ideal response?