Voluntary programs are dependable ways to protect the environment
a. True
b. False
Indicate whether the statement is true or false
False
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Based on the information above, video games have
a. A unitary elastic demand b. An inelastic demand c. An elastic demand d. A perfectly elastic demand
What impact did the soaring oil prices of 2007 and the first half of 2008 have on the economy?
a. They increased SRAS, causing real output and employment to increase. b. They reduced SRAS, causing real output and employment to increase. c. They increased SRAS, causing real output and employment to decline. d. They reduced SRAS, causing real output and employment to decline.
During the Obama administration, the development of low-cost batteries for electric cars received large amounts of federal funding in terms of subsidies. Meanwhile, American households gave a higher priority towards minimizing their environmental impact. Consider the market for zero-emissions electric vehicles where there is an upward-sloping supply curve and a downward-sloping demand curve. Which direction will demand and supply shift?
A. Demand will shift right and supply will shift length. B. Demand will shift left and supply will shift right. C. Both curves will shift left. D. Both curves will shift right.
Kayla and Kevin are friends who go together to a used textbook seller who has two copies of the biology book that they both need for their class this semester. The cost to the seller of acquiring the books was $25 each and no other students will need this book. Kayla states that she is willing to pay $40 for the book, while Kevin says he is willing to pay $80. Which of the following describes the most likely conclusion to this scenario?
A. The seller will sell the books to both Kayla and Kevin for $80 each because Kevin's higher value exceeds Kayla's willingness to pay. B. The seller will sell the books to both Kayla and Kevin for $40 each because if they tried to charge Kevin a higher price, Kayla would engage in arbitrage. C. The seller will sell one book to Kayla for $40 and one book to Kevin for $80 because this market meets all three requirements for price discrimination. D. The seller will sell the books to both Kayla and Kevin for $25 each because that is how much the seller paid for the books.