Refer to Figure 4.2. The dominant strategy for Ferris is to
A) go to the movie theater.
B) go to the bowling alley.
C) go to either the movie theater or to the bowling alley.
D) Ferris does not have a dominant strategy.
D
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Which of the following is the best synonym for "marginal" in economics?
A. basic B. scarce C. additional D. minor
Studies have shown that drinking one glass of red wine per day may help prevent heart disease. Assume this is true, and a fungal disease destroys a large portion of the grape harvest of California vineyards
In the market for red wine, these two developments would A) increase demand and decrease supply resulting in a decrease in both the equilibrium quantity and the equilibrium price of red wine. B) increase demand and increase supply, resulting in an increase in the equilibrium quantity and a decrease in the equilibrium price of red wine. C) increase demand and decrease supply, resulting in an increase in both the equilibrium price and the equilibrium quantity of red wine. D) increase demand and decrease supply, resulting in an increase in the equilibrium price and an uncertain effect on the equilibrium quantity of red wine.
Intertemporal trade is
A) the exchange of goods but not services for claims to future goods. B) the exchange of services but not goods for claims to future services. C) the exchange of good and services for claims to future goods and services. D) the exchange of domestic goods and services for foreign goods and services. E) the type of trade that the U.S. government focuses most upon.
Assuming that bus travel is an inferior good, a decrease in consumer income, other things being equal, will cause
a. a downward movement along the demand curve for bus travel. b. no change in the demand curve for bus travel. c. an upward movement along the demand curve for air travel. d. a rightward shift in the demand curve for bus travel.