Which of the following does not constitute a household consumption item?
a. A pair of jeans
b. A bottle of Beck's beer
c. A haircut
d. A steam turbine electric generator
e. A packet of breakfast cereal
d
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Suppose Carol's Candid Cameras wants to increase its total revenue. If the firm lowers the price of cameras by 2 percent, Carol must be predicting that the quantity
A) supplied will increase by more than 2 percent. B) demanded will increase by more than 2 percent. C) demanded will decrease by less than 2 percent. D) supply will decrease by less than 2 percent.
Which of the following statements about "inside information" is FALSE?
A) It is information that is not available to the general public. B) It is illegal to knowingly use inside information when trading stocks. C) Profits can be made using inside information. D) The government never imposes fines or other penalties for abuse of inside information.