An increase in the budget deficit shifts the demand for loanable funds to the right
a. True
b. False
Indicate whether the statement is true or false
False
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Advertising has no effect on the demand schedule for a good.
Answer the following statement true (T) or false (F)
When Pepsi becomes more expensive relative to other beverages, people will purchase less Pepsi. This observation is known as the:
a. diamond-water paradox. b. law of diminishing marginal utility. c. substitution effect. d. income effect.
Which of the following is not an explicit cost?
a. Salaries. b. Sales taxes. c. Utilities, such as gas and electricity. d. Insurance. e. The firm owner's time.
The Condorcet paradox tells us that, even though it is impossible to satisfy all of Arrow's properties of a desirable voting system, pairwise majority voting will always satisfy transitivity
a. True b. False Indicate whether the statement is true or false