See the information in Scenario 4.4. Does the demand curve for Rock and Roll Trivia slope downward?
A) Yes it does.
B) No it does not.
C) More information is needed to answer this question.
A
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According to the economic way of thinking, government officials tend to vote on legislation that
A) concentrates benefits on a well-organized group. B) disperses costs throughout a great number of politically unorganized people. C) generates short-term benefits and postpones the costs. D) does all of the above. E) does none of the above.
Firm A producing one good acquires another firm B producing another good. The cross price elasticity of demand for the goods owned by each firm is 2.6 . Holding other things constant, the acquiring firm should
a. Raise prices on both goods b. Lower prices on both goods c. Raise price on the acquired good only d. Need more information
In the actual economy, households
a. spend all of their income. b. divide their income among spending, taxes, and saving. c. buy all goods and services produced in the economy. d. Both (a) and (c) are correct.
There exists asymmetric information in a market:
A. if both sides of the market have the same information about the good. B. only if buyers have better information about the good than sellers. C. only if sellers have better information about the good than buyers. D. if either buyers or sellers have better information than the other group.