Refer to Figure 13-3. Suppose the economy is at point A. If investment spending increases in the economy, where will the eventual long-run equilibrium be?

Which one of the following techniques would most likely be used to estimate the value of preservation of a remote arctic wildlife preserve?

a. Hedonic pricing b. Travel cost method c. Production function valuation d. Engineering cost valuation e. Contingent valuation

Recall the Application. If it is not known whether the decrease in price of illegal drugs is primarily due to a change in supply, a change in demand, or equal changes in both, the equilibrium quantity of drugs

A) will increase. B) will decrease. C) will not change. D) may or may not change.