How would the graph change if the price ceiling was removed?
a. P2 would move to PC.
b. QD and QS would move to Q2.
c. PC would move to E1.
d. Q2 and QD would move to QS.
b. QD and QS would move to Q2.
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In one day, Brandon can either plow 10 acres or plant 20 acres. In one day, Christopher can either plow 14 acres or plant 14 acres. Which of the following statements about comparative advantage is CORRECT?
A) Brandon has a comparative advantage in both plowing and planting. B) Brandon has a comparative advantage only in plowing. C) Brandon has a comparative advantage only in planting. D) Christopher has a comparative advantage in both plowing and planting.
The 1981 economic recovery act ________ net investment according to ________
A) greatly increased; Barry Bosworth B) decreased; Barry Bosworth C) increased; Martin Feldstein D) decreased; Martin Feldstein
Among the advantages of the least-squares trend analysis techniques is
A) the ease of calculation. B) relatively little analytical skill required. C) its ability to provide information regarding the statistical significance of the results. D) All of the above
To optimally deter crime, law enforcement authorities should:
A) set higher fines for crimes that have a lower probability of being caught. B) set the fine equal to the expected benefit, even if it is difficult to catch the offenders. C) ignore the probabilities of catching offenders and attempt to prevent crime at all costs. D) set very high fines regardless of the probability that an offender is caught.