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Home Search Your Textbook The Economic Way of Thinking

Questions for: The Economic Way of Thinking — 13e

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"30 people camp on the sidewalk in 10 degree weather for Phish reunion concert tickets, sold only at

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"A doubling of the price of gasoline in the 1970s did not reduce consumption one iota." The person m

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"Coffee Prices Sink As Demand Falls." The newspaper heading

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"Dad said he'd pay for my education whether I go to State or to Ivy College. So I chose Ivy College,

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"Demand deposits" in commercial banks are

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"Gasoline purchases were up 10% last week, even though gasoline prices were 6 cents higher than the

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"I'd rather have $100 now than wait for $100 six months from now." This person

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"I'm telling you, instead of charging $50 each, they could give the opera tickets away for free, and

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"Lady Gaga concert sells out. 60,000 tickets sold." What can an economist conclude from the above he

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"Less demand causes lower prices, and lower prices cause more demand." The above statement shows

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"Loss" is another word for

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"Market clearing" refers to the case where

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"Material" wealth cannot be distinguished in any useful way from wealth (with no modifying adjective

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"My son is a smart entrepreneur. Rather than borrow money from others, he used his own savings to st

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"Opportunity cost" is

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"Opportunity cost" is

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"Price gouging," or significant price spikes, are typical caused by

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"The Florida freeze has destroyed 40% of the orange crop. The reduction in supply will increase oran

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"The percentage change in quantity demanded divided by the percentage change in price" represents

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"Total revenue minus total cost" is

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