Suppose a whiskey maker advertises its whiskey as follows: "Whiskey that tastes expensive and is expensive." The manufacturer is assuming some customers who buy whiskey
A) have a perfectly inelastic demand for whiskey.
B) have a relatively inelastic demand for whiskey.
C) want to impress their friends or associates.
D) will ignore the law of demand.
E) will purchase more at higher than at lower prices.
C
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Which of the following will NOT lead to increased capital investment within a country?
A) increased uncertainty about private property rights B) increased certainty about private property rights C) increased certainty about being able to reap the gains from investing D) the decreased possibility of nationalization of private property
Two players are playing a game. Player 1 is given $100 and is asked to offer a certain share of the money to Player 2. Player 2 can then choose to accept or reject the offer
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