Which of the following will not cause the demand curve for good X to shift?
A) a change in the price of X
B) a change in the price of Y, a complement
C) a change in the price of Z, a substitute
D) an increase in average disposable real income
A
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From 1970 to 2006, the largest percentage increase in average real income for households in the United States occurred in which quintile?
A) the bottom quintile B) the second quintile C) the middle quintile D) the top quintile
A decrease in the capital stock would be expected to
a. decrease the labor force. b. increase the level of output. c. decrease real GDP per capita. d. increase real GDP per capita.
Why is oligopoly more difficult to model than competition or monopoly?
The above figure shows the market for pizza. The market is in equilibrium when the cheese used to produce pizza falls in price. What point represents the most likely new price and quantity?
A) A
B) B
C) C
D) D
E) E