The federal government ran a budget deficit of approximately $1.3 trillion in 2011
Indicate whether the statement is true or false
TRUE
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From the highest percentage to the lowest percentage, the number of firms by business type in the United States is represented by which of the following?
A) corporations, sole proprietorships, partnerships B) corporations, partnerships, sole proprietorships C) sole proprietorships, partnerships, corporations D) sole proprietorships, corporations, partnerships
Explain why baseball ticket prices may increase when a team pays a new player a large salary, but will remain unchanged when a current player gets a salary increase
What will be an ideal response?
The income effect of a price increase for a Giffen good outweighs the substitution effect
Indicate whether the statement is true or false
If consumer incomes go up and Harley Davidson motorcycles are a normal good, the effect on the demand for motorcycles, ceteris paribus, will be a(n):
a. upward movement along the demand curve for motorcycles. b. downward movement along the demand curve for motorcycles. c. rightward shift in the demand curve for motorcycles. d. leftward shift in the demand curve for motorcycles.