Describe the changes in the variables that will cause the demand for a product to decrease, shifting the demand curve to the left
What will be an ideal response?
a decrease in income if the product is a normal good; an increase in income if the product is an inferior good; a decrease in the price of a substitute good; an increase in the price of a complementary good; a decrease in population; a decrease in consumer preference for the good; a decrease in the expected future price of the good
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Refer to the scenario above. Which of the following strategy combinations denote a Nash equilibrium?
A) (Left, Left) B) (Left, Right) C) (Right, Left ) D) (Right, Right)
What are the conditions for price discrimination?
What will be an ideal response?
The greater the standard error of an estimated coefficient:
A. the greater the t-value of the estimated coefficient. B. the greater the R-square. C. the greater the adjusted R-square. D. the lower the t-value of the estimated coefficient.
When there is a negative entry for unilateral transfers in the balance of payments, it means that
A) there must be an offsetting positive sign in the financial account. B) U.S. residents gave more to foreign residents than foreign residents gave to U.S. residents. C) U.S. residents purchased less services from foreign countries than foreign countries purchased from U.S. residents. D) U.S. residents purchased more services from foreign countries than foreign countries purchased from U.S. residents.