People's willingness to buy the PC or Mac format of computer software depends on how popular the software format is among other consumers. This is an example of
A) a cartel.
B) an opportunity cost.
C) a network effect.
D) the prisoners' dilemma.
C
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A price-discriminating firm charges the lowest price to the group that
a. has the most elastic demand. b. purchases the largest quantity. c. engages in the most arbitrage. d. is least responsive to price changes.
Which of the following best describes a fiscal policy tool?
A. government spending B. bank lending C. financial capital markets D. household spending
When aggregate expenditure=GDP,
What will be an ideal response?
In 1972, the EPA banned the pesticide DDT. How would you classify this approach to reducing the environmental contamination caused by DDT?
A. A carbon tax B. A marketable permit system C. Command-and-control regulation D. A cap-and-trade system