A rightward shift of the market demand curve for drones, ceteris paribus, causes equilibrium
A. Price to increase and equilibrium quantity to increase.
B. Price to decrease and equilibrium quantity to increase.
C. Price to increase and equilibrium quantity to decrease.
D. Price to decrease and equilibrium quantity to decrease.
Answer: A
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Susie spends more of October thinking about her Halloween costume than she spends thinking about a proposed law that will be on the November ballot. Which of the following is true?
a. This behavior is rational if she expects a greater benefit from the costume than from any possible effect her vote could have on the proposed law. b. This behavior is rational if she is planning to spend the time from Halloween to Election Day thinking about the law. c. This behavior is not rational because the law is more important than the costume. d. In order for this behavior to be considered rational, it would have to be true that Susie is too ignorant to fully understand the law. e. In order for this behavior to be considered rational, it would have to be true that Susie would not be affected by the law.
Assume that Virgil purchases a combination of products Y and Z such that, after he is done spending his entire budget, MUy / Py = 25 and MUz / Pz = 25. Based on the equal marginal principle, Virgil
A. should have purchased more Y and more Z. B. should have purchased less Y and more Z. C. is maximizing his total utility. D. should have purchased more Y and less Z.
The number of compact discs purchased by a consumer depends on the price of the discs as well as the prices of all other goods purchased.
Answer the following statement true (T) or false (F)
The Policy Trilemma states that a country or a monetary union can't pursue the following three policies at the same time
A) capital control, a fixed exchange rate, and an independent monetary policy. B) free capital mobility, a fixed exchange rate, and an independent monetary policy. C) free capital mobility, a flexible exchange rate, and an independent monetary policy. D) capital control, a flexible exchange rate, and an independent monetary policy.