Which is not a trade-off for students who spend a semester abroad?
(A) Eating all of their favorite foods.
(B) Experiencing the culture of another country.
(C) Missing family activities at home.
(D) Seeing friends from home daily.
Ans: (B) Experiencing the culture of another country.
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You and I both have homothetic tastes. When the price of peaches goes up, you buy more strawberries and I buy fewer. Which of the following must be true.
A. Peaches are more substitutable with strawberries for me than they are for you. B. Peaches are more substitutable with strawberries for you than they are for me. C. Strawberries are normal goods for you and inferior goods for me. D. Strawberries are normal goods for me and inferior goods for you. E. Both (a) and (c). F. Both (b) and (c). G. Both (a) and (d) H. Both (b) and (d)
Which one of the following colonial groups actually benefited from the Navigation Acts?
a. Southern tobacco farmers b. New England shipbuilders c. colonists who bought goods imported from non-imperial sources d. No colonial group benefited from the Navigation Acts.
The phase out of the subsidies for the purchase of health insurance will increase the implicit marginal tax rate on earnings for which of the following groups?
a. The elderly. b. Individuals and families with incomes between 133 percent and 400 percent of the poverty level. c. Individuals and families with incomes of more than 400 percent of the poverty level. d. All workers employed by firms with fewer than 50 full-time employees.
Assume that coal is a normal good. If the price of coal increases and the quantity sold increases, which of the following is consistent with these observations?
What will be an ideal response?