The textbook notes that the last time a major league batter hit .400 was in 1941. This is because:
A. the league imposes harsh penalties for steroid use.
B. baseball diamonds have become larger.
C. the average quality of batters has fallen.
D. specialization by pitchers, infielders, and outfielders has made it harder for batters to hit.
Answer: D
Economics
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Using the above figure, suppose that roses are a normal good. If there is an increase in income
A) the equilibrium price will rise above $25 per dozen roses. B) the equilibrium quantity will decrease below 10 dozen roses. C) we cannot predict what will happen to the equilibrium price. D) we cannot predict what will happen to the equilibrium quantity.
Economics
Which term refers to a legally established minimum price that firms may charge?
A) a tariff B) a price ceiling C) a subsidy D) a price floor
Economics