Tasha decides that when homes in her neighborhood are selling for $150,000 she will not sell her home. When average prices rise to $175,000, she decides that she will put her home on the market. This is an example of:
A. market demand.
B. a negatively-sloped supply curve.
C. an excess supply of homes.
D. a positively-sloped supply curve.
Answer: D
You might also like to view...
Net revenue is defined as
A) marginal revenue minus marginal cost. B) total revenue minus marginal cost. C) total revenue minus total cost. D) gross revenue minus depreciation.
Is "utility" another word for the cost we give up when we consume a good?
What will be an ideal response?
Suppose that an MBA degree creates no externality because the benefits of an MBA are internalized by the student in the form of higher wages. If there are no government subsidies for MBAs, then which of the following statements is correct?
a. The equilibrium quantity of MBAs will equal the socially optimal quantity of MBAs. b. The equilibrium quantity of MBAs will be greater than the socially optimal quantity of MBAs. c. The equilibrium quantity of MBAs will be less than the socially optimal quantity of MBAs. d. There is not enough information to answer the question.
The recession of 1937-38 had two basic causes: (1) _______________________; and (2) _________________________.
Fill in the blank(s) with the appropriate word(s).