Lionfish is an aquatic invasive species in the southeastern U.S. and the Caribbean. Current removal policies focus on harvesting the lionfish for human consumption
Assuming that lionfish is a substitute for snapper, what will likely happen to fishing efforts for lionfish if the price of snapper increases? A) Fishing efforts will increase.
B) Fishing efforts will decrease.
C) Fishing efforts will remain the same if supply is perfectly inelastic.
D) A and C.
D
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Assuming full employment, if the private sector saves 8 percent of its income and the government raises taxes by $500 to finance public investments, total investment will increase by $460
Indicate whether the statement is true or false
The prices of certain goods, such as ice and gasoline, often increase after a natural disaster such as a hurricane. The economic explanation for this observation is that
A) people panic in disaster situations. B) disasters bring out the worst in people. C) the disaster temporarily reduces the supply of the goods and increases the demand for the goods. D) the disaster temporarily reduces the supply of the goods and reduces the demand for the goods.