Goods, such as L.A. Lakers tickets and parking spaces around the stadium, are sometimes consumed together. Which of the following would decrease the demand for parking spaces around the stadium?
A) An increase in the price of Lakers tickets
B) A higher parking fee
C) A decrease in the price of Lakers tickets
D) A substantial increase in the price of local cab services
A
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A beneficial oil-price shock increases labor demand. What happens to current employment and the real wage rate?
A) Both employment and the real wage rate would increase. B) Both employment and the real wage rate would decrease. C) Employment would increase and the real wage would decrease. D) Employment would decrease and the real wage would increase.
The bursting of the __________ market was largely responsible for setting off the Great Recession.
Fill in the blank(s) with the appropriate word(s).
If an economy produced 10 pizzas at $20 each and fifteen gallons of root beer at $5 each, the total value of these goods and services would be
A. $75. B. $200. C. $275. D. $2,750.
Refer to the information provided in Figure 8.3 below to answer the question(s) that follow. Figure 8.3
Refer to Figure 8.3. The marginal cost of the ninth basketball is
A. less than $2. B. $2. C. $3. D. greater than $3.