If the price of sandals is fixed by law below the market-clearing price,
A) a surplus of sandals will result.
B) sandal inventories at shoe stores will be smaller.
C) sandal sellers will spend more on advertising.
D) the quantity of sandals demanded will be greater than the quantity supplied.
E) the quantity of sandals demanded will be less than the quantity supplied.
B
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If expected future income increases, then
A) the supply of loanable funds increases. B) the quantity of loanable funds supplied decreases. C) the supply of loanable funds decreases. D) the demand for loanable funds decreases. E) the quantity of loanable funds demanded increases.
A marginally attached worker is a person who ________
A. works part time for economic reasons B. works part time for noneconomic reasons C. doesn't work, is available and willing to work, but hasn't looked for job recently D. has no job but would like one and has gone back to school to retrain
Public goods are goods that have
A) only a few low income consumers. B) clear property right. C) nonexcludability and nonrivalrous. D) features that cannot be addressed by creating property rights.
Which of the following would lead to an increase in the demand for designer blue jeans?
a. a decrease in the price of designer blue jeans b. a reduction in the price of the cotton used to produce the jeans c. an increase in the income of youthful Americans d. an increase in the price of the cotton used to produce the jeans