Suppose that for emily, dvds and trips to the movie theater are perfect substitutes. currently, emily is spending all of her income on trips to the movie theater. if the price of dvds doubles, the substitution effect will
a. be zero.
b. be half the income effect.
c. be two times the income effect.
d. always increase the number of trips to the movie theater emily makes.

If research reveals that a company has a large number of unresolved complaints and a poor business rating, which external source did you most likely use during this research? a. blogs b. better business bureau c. social media d. local chamber of commerce e. mint global

The impact fiscal multiplier is a. usually estimated to have an average value of 2. b. usually estimated to have an average value of 0. c. the actual immediate multiplier effect of a fiscal policy action after taking into consideration direct fiscal offsets and other short-term crowding out of private spending. d. the multiplier effect of a fiscal policy action that applies to a long-run period after all influences on equilibrium real gdp have been taken into account.

2. the language of price controls consider the market for rental cars. suppose that, in a competitive market without government regulations, the equilibrium price of rental cars is $58 per day, and employees at car rental companies earn $19.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect there are many teenagers who would like to work at car rental companies, but the minimum-wage law sets the hourly wage at $23.00. the government has instituted a legal minimum price of $87 per day for rental cars. the government prohibits car rental companies from renting out rental cars for more than $87 per day.