Safe Bank has an outside display which has the time and temperature that is always correct. This is an example of
A) an interference in the workings of the price system.
B) a breakdown in communication between the bank and its customers.
C) a negative externality.
D) a positive externality.
D
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In the long run, larger budget deficits lead to ________
A) higher saving levels B) a fall in investment C) lower interest rates D) all of the above E) none of the above
A preliminary conclusion about welfare reform is that
a. work requirements do seem to yield substantial declines in welfare caseloads b. work requirements cause welfare caseloads to increase c. such reform can only be instituted when the economy is strong d. welfare can be reformed even when the economy is weak e. welfare rolls decline faster when the economy is weak because more people need income during those times
Big Alice Ice Cream Parlor reduced its price of an ice cream cone from $1 to 90 cents. Sales consequently increased from 1,000 cones per week to 1,050 . The approximate price elasticity is
a. 0.20. b. 0.46. c. 2.16. d. 5.00.
Exhibit 6A-3 Consumer equilibrium
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Given the budget line and indifference curves shown in Exhibit 6A-3, point V is:
A. inferior to point X. B. lowest attainable level of total utility. C. unobtainable. D. consumer equilibrium.