Because of the differing account conventions, there is a great deal of arbitrariness in a number that purports to be
A. the deficit.
B. the surplus.
C. the debt.
D. all of these answer options are correct.
D. all of these answer options are correct.
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After a hurricane in Florida knocked out the regional water supply for several days, the demand for bottled water increased sharply. In a market economy, how will this increase in demand affect the equilibrium price and quantity of bottled water?
a. Price will increase, and quantity will decrease. b. Price will decrease, and quantity will decrease. c. Price will decrease, and quantity will increase. d. Price will increase, and quantity will increase.
A radio story reported a study on the makes and models of cars that were observed going through intersections in the Washington, D.C. area without stopping at the stop signs. According to the story, Volvos were heavily overrepresented; the fraction of cars running stop signs that were Volvos was much greater than the fraction of Volvos in the total population of cars in the D.C. area. This is
initially surprising because Volvo has built a reputation as an especially safe car that appeals to sensible, safety-conscious drivers. How is this observation best explained? a. Volvo drivers are not willing to take risks that they would take in another, less safe car. Driving a Volvo leads to a propensity to run stop signs. b. Volvo drivers are not willing to take risks that they would take in another, less safe car. Driving a Volvo reduces the propensity to run stop signs. c. Volvo drivers are willing to take risks that they would not take in another, less safe car. Driving a Volvo reduces the propensity to run stop signs. d. Volvo drivers are willing to take risks that they would not take in another, less safe car. Driving a Volvo leads to a propensity to run stop signs.
Two products are perfect complements if:
A. a consumer is willing to swap one for another at a fixed rate. B. they are valuable only when used together in fixed proportions. C. their indifference curves are straight lines. D. they lie on the same indifference curve.
Which of the following might be considered a positive externality?
A) the pollination of an orange grove due to bees kept by a nearby beekeeper B) individuals who did not get the flu, yet did not receive a flu shot when those around them did receive the shot C) better fishing resulting from increased lake temperatures generated by the nearby power plant D) All of the above are correct.