Suppose an instructor takes off points for students coming late to class. He then finds that the number of late arrivals has risen. This could have happened because the:
A. shadow price of late arrivals rose.
B. shadow price of late arrivals declined.
C. money price of late arrivals declined.
D. teacher did not fine the students monetarily for arriving late.
Answer: B
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Hermione and Ron are at a sweet shop in London. Hermione looks at the prices of ice cream and chocolate bars and says to Ron: "I can tell you what your marginal rate of substitution between ice cream and chocolate bars is at your best affordable
point." "No, you can't," says Ron. "You don't know my preferences and how much money I have." "I don't need to know all this because I know the prices," Hermione replies. Is she right? Explain.
Explain why it may make sense for the United States, Japan, and Europe to allow their mutual exchange rate to float?
What will be an ideal response?
The largest merger in American history was that of
a. Chemical Banking and Chase Manhattan in 1996. b. America Online and Time Warner in 2000. c. Gillette's acquisition of Duracell in 1985. d. Credit Suisse's acquisition of Northern Rock in 2007.
The ____ participate in the labor force to a greater extent than do the ____
a. very young; middle-aged and very old b. middle-aged; very young and very old c. very old; very young and middle-aged d. very young and very old; middle-aged