An increase in the wages paid to fishermen will have what effect on the fish market equilibrium?
A. Price will decrease, and quantity will decrease.
B. Price will increase, and quantity will increase.
C. Price will decrease, and quantity will increase.
D. Price will increase, and quantity will decrease.
Answer: D
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Imputed rental income ____
a. is payment made by rental owners to facility management companies b. provides no value to the recipient c. is the dollar amount of the rental value of an owner-occupied home d. is the dollar amount of the rental value of a renter-occupied home
When the price system fails to generate an efficient allocation of resources
A) the market will always correct it. B) consumers will spend less. C) business will produce more. D) too few or too many goods will be produced.
According to the equation of exchange, if M = 200, P = 100, and Q = 10, the V is:
a. 20. b. 2. c. 10. d. 5. e. 2,000.
Which of the following is not a way we sometimes confuse correlation and causation?
A. Omitted variables B. Correlation without causation C. Reverse causality D. Non-linear relationships