Which of the following statements cannot be made regarding consumer preferences?
a. Pat enjoys her second cotton candy less than her first.
b. Bill enjoys his second cotton candy as much as the first.
c. Arnie enjoys two cotton candies more than one cotton candy.
d. Arnie enjoys two cotton candies more than Pat enjoys one cotton candy.
e. Bill and Arnie enjoy their second cotton candy less than they do their first.
D
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Suppose that a consumer is at an optimum consuming X and Y. If the price of X falls, then to get to a new equilibrium the consumer must
A) purchase less X and more Y. B) purchase less Y and less X. C) purchase more X. D) purchase more Y.
One way the government can boost the economy out of a recession is:
A. with public announcements telling the public to save their money. B. by increasing government spending. C. by setting price ceilings on most goods so people can afford them. D. None of these will help an economy in recession.
Under the rational criminal model, a decrease in the punishment associated with getting convicted will
A. increase crime. B. have no effect on crime. C. increase the caseload in the appellate court system. D. decrease crime.
Inequality between countries, in terms of differences in their average national incomes, has been:
A. increasing since the 1930s. B. decreasing over recent decades. C. decreasing since the 1930s. D. increasing over recent decades.