An economic system in which money is not used is a:
A. Planned economy
B. Market economy
C. Mixed economy
D. Barter economy
Answer: D
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During the 1990s positive technological change in the production of chicken caused the price of chicken to fall. Holding everything else constant, how would this affect the market for pork (a substitute for chicken)?
A) The demand for pork would decrease and the equilibrium price of pork would decrease. B) The demand for pork would increase because consumers could afford to buy more chicken and pork. C) The supply of pork would increase and the equilibrium price of pork would decrease. D) The demand for pork would decrease and the equilibrium price of pork would increase.
In 1996, All-Points Flashlights merged with North Star Flashlights to form a new company called Allstar Flashlights. In 1997, Allstar Flashlights merged with Bright Idea Lightbulbs to form a new company called Bright Star. Then, in 2000 . Bright Star
merged with Wendy's Kites & Stuff, a company that produces paper kites and other toys, to become BSK International. Describe the kinds of mergers that took place.
Expectations theory tells us that what people think can impact the economy
Indicate whether the statement is true or false
If those who consumed common resources were subject to a tax that was equal to the external costs that they imposed due to the negative externality created, their demand curve would shift:
A. down and they would consume more. B. down and they would consume less. C. up and they would consume less. D. up and they would consume more.