0 [{"id":92466,"quiz_id":"6571","answer_id":null,"answerType_id":"0","created_at":"2016-08-03 17:28:06","updated_at":"2016-08-04 01:55:45","questionName":"Kiwi fruit is originally from China (the \"Chinese Gooseberry\") but was first used as an internationally traded commercial crop in New Zealand. In recent years, Kiwi wines have been established on farms in Chile, Mexico, and California. 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This will cause the equilubrium price of tea to _?_ and the equilibrium quanity of tea to _?_.","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":12,"explanation":"","question_score_id":null,"lang":null,"questionAudioPath":null},{"id":92463,"quiz_id":"6571","answer_id":null,"answerType_id":"0","created_at":"2016-08-03 17:17:05","updated_at":"2016-08-04 01:55:45","questionName":"Copper and Aluminum are the two bestb electrical conductors among inexpensively produced metals, and thus are substitutes. Soppose copper workers unionize and secure and extremely large wage increase. One would expect the equilibrium price of copper to _?_ and the equilibrium aluminum to _?_.","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":11,"explanation":"","question_score_id":null,"lang":null,"questionAudioPath":null},{"id":92459,"quiz_id":"6571","answer_id":null,"answerType_id":"0","created_at":"2016-08-03 17:12:17","updated_at":"2016-08-04 01:55:45","questionName":"Algeria possesses ab excellent climate for growing wine grapes, butmost Algerians are strict Moslems who do not consume alcoholic beverages. Denmark's climate is unsuitable for growing grapes, but its people enjoy drinking wine. ONe would expect, then, that the price of wine would be higher in _?_, and that _?_ would export wine to _?_. The international trade in wine would _?_ the price differential between the two countries.","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":10,"explanation":"","question_score_id":null,"lang":null,"questionAudioPath":null},{"id":92456,"quiz_id":"6571","answer_id":null,"answerType_id":"0","created_at":"2016-08-03 16:59:24","updated_at":"2016-08-04 01:55:45","questionName":"If a just released FDA study were to conclude that coffee causes caber, then one would expect the equilibrium price od coffee to _?_, and the equilibrium quanity of coffee to _?_. Commodities trades specializing in coffee would rush to _?_ coffee.","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":8,"explanation":"","question_score_id":null,"lang":null,"questionAudioPath":null}]

block

Kiwi fruit is originally from China (the "Chinese Gooseberry") but was first used as an internationally traded commercial crop in New Zealand. In recent years, Kiwi wines have been established on farms in Chile, Mexico, and California. One might expect, then the equilibrium price of Kiwi to _?_, and the equilibrium quanity of Kiwi fruit to _?_.

Select the correct answer(s).  

(0/0)

---

increase, increase

increase, decrease

decrease, decrease

decrease, increase

none

Which of the following four statements is false

Select the correct answer(s).  

(0/0)

---

Foraging societies have much higher population growth than agricultural societies.

none of the above

MArkets allow strangers to engage in one-time exchange with each other

Redistribution is more hierarchical thaqn reciprocity

the sexual division og labor defines reciprocity in most foraging societies

none

The law of supply makes an assumption about the self-interested behaviour of _?_. It says that as price _?_, the quanity supplied _?_/

Select the correct answer(s).  

(0/0)

Explanation

Buyers: p ^ q decreases, p decreases q ^; Sellers p ^ q ^, p decreases q decreases

---

sellers, increase, decrease

buyers, decrease, increase

none of the above

sellers decrease, increase

buyers, increase, increase

none

In the circular flow diagram, _?_ is (are) a flow of money, flowing from _?_ to _?_.

Select the correct answer(s).  

(0/0)

---

none of the above

expenditures, firms, households

income, firms, households

factors of [production, households, firms

goods and services, firms, households

none

which of the following four statements is false?

Select the correct answer(s).  

(0/0)

---

Faced with a shortage, buyers, in self-interest, will bid prices

all of the above

A good example of commodity is art, sicne once piece of art is never exactly like the other

Faced with a surplus, sellers, in self-interest, will cut prices

When traders buy commodity at a low price, and the sell it at a high price, they are practicing arbitrage

none

Microeconimic models try to fine the outcome that occurs when behave _?_. This outcome is called _?_.

Select the correct answer(s).  

(0/0)

---

altruistically, equilibrium

non of the above

in self-interest, social optimum

in self-interest, equilibrium

altruistically, social optimum

none

In the U.S. today, government and the internal structure of large companies are examples of _?_, while the fsmily is an example of _?_. In general, activities organized on the basis of reciprocity are being replaced by _?_ relationships.

Select the correct answer(s).  

(0/0)

---

redistribution, markets, redistributibe

Redistribution, reciprocity, market

reciprocity, redistribution, market

markets, redistribution, redistributive

none

When refineries extract fuel oil from petroleum, gasoline is pr4oduced as a by product. Fuel oil is used for heating, especially in cold arease such as New England. If there is an unusually cold winter in New England, one would expect the price of oil to _?_ and the price of _gasoline to _?_.

Select the correct answer(s).  

(0/0)

---

increase, decrease

decrease, decrease

increase, increase

decrease, increase

none

As societies grow larger, it becomes difficult for one individual to assess the contributions made by all other individuals in the group, making it possible for people to benefit from group resources withoput contributing anything. Economist call this _?_, and this phenomenon is responsible for the reduced importance of _?_ in large social groups

Select the correct answer(s).  

(0/0)

---

multiplicative rationality, redistribution

moral hazard, markets

none of the above

the free rider problem, reciprocity

inflationary expectations, redistibution

none

the typical _?_ has about _?_ members.

Select the correct answer(s).  

(0/0)

Explanation

"band" in foraging societies, 25; "intimacy group", 11; "Z-tribe" in foraging societies, 500

---

optimal decision making group, 5 to 9

"intimacy group", 25

"Z-tribe" in foraging societies, 11

all of the above

"band" in foraging societies, 500

none

Suppose that an agrochemical firm develops an herbicide-resistant strain of maze. A crop can now be planted on land that has been sprayed with herbicide, and the crop will grow without any need for weeding. Yeilds will now probably be higher (less consuption from weeds) and the cose of production will be lower (less time and money spect on dealing with weeds). As a result, the equilibrium price of maize should _?_ and the equilibrium quanity of maize should _?_.

Select the correct answer(s).  

(0/0)

---

decrease, increase

none of the above

decrease, decrease

increase, decrease

increase, increase

none

A frost in the coffee-growing regions of Brazil will lead to a reduced crop. This will cause the equilubrium price of tea to _?_ and the equilibrium quanity of tea to _?_.

Select the correct answer(s).  

(0/0)

---

increase, decrease

decrease, increase

increase, increase

decrease, decrease

none

Copper and Aluminum are the two bestb electrical conductors among inexpensively produced metals, and thus are substitutes. Soppose copper workers unionize and secure and extremely large wage increase. One would expect the equilibrium price of copper to _?_ and the equilibrium aluminum to _?_.

Select the correct answer(s).  

(0/0)

---

increase, decrease

decrease, decrease

increase, increase

decrease increase

none

Algeria possesses ab excellent climate for growing wine grapes, butmost Algerians are strict Moslems who do not consume alcoholic beverages. Denmark's climate is unsuitable for growing grapes, but its people enjoy drinking wine. ONe would expect, then, that the price of wine would be higher in _?_, and that _?_ would export wine to _?_. The international trade in wine would _?_ the price differential between the two countries.

Select the correct answer(s).  

(0/0)

---

Denmark, Denmark, Algeria, widen

Denmark, Algeria, Denmark, narrow

Algeria, ALgeria, Denmark, widen

none of the above

Algeria, Denmark, ALgeria, narrow

none

If a just released FDA study were to conclude that coffee causes caber, then one would expect the equilibrium price od coffee to _?_, and the equilibrium quanity of coffee to _?_. Commodities trades specializing in coffee would rush to _?_ coffee.

Select the correct answer(s).  

(0/0)

---

increase, decrease, buy

none of the above

decrease, increase, sell

decrease, decrease, sell

increase, increase, buy