During the second half of the 19th century, export demand for U.S. agricultural products
a. declined.
b. increased.
c. remained static.
d. experienced chaotic periods on increase and decrease.
b. increased.
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After Hurricane Katrina, there was considerable public outrage that many of the properties were not insured against flooding although they were insured against wind damage. What might explain these different approaches to insurance?
A) The risk of wind damage is potentially diversifiable, but the risk of flooding is not. B) The risk of flood damage is potentially diversifiable, but the risk of wind damage is not. C) predatory insurance policies D) Neither the risk of wind damage or the risk of flooding is diversifiable.
It is impossible for the government to maintain a balanced budget while using fiscal policy to eliminate a recessionary gap.
Answer the following statement true (T) or false (F)
A local video store estimates its average customer's demand per year is Q = 7 ? 2P, and it knows the marginal cost of each rental is $0.5. How much should the store charge for each rental if it engages in optimal two-part pricing?
A. $0.35 B. $0.7 C. $1.00 D. $0.5
A firm with a highly inelastic demand for coal will:
A. cut consumption less than a firm with a highly elastic demand when price goes up. B. refuse to cut consumption for any reason. C. stop using coal entirely if a tax is imposed. D. cut consumption more than a firm with a highly elastic demand when price goes up.