If there is a decrease in demand for lettuce, we would expect:
a. both the price and quantity sold to increase.
b. both the price and quantity sold to decrease.
c. the price to decrease and the quantity sold to increase.
d. the price to increase and the quantity sold to decrease.
b
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The question of whether economic growth is desirable is a positive question, easily settled by economic analysis
Indicate whether the statement is true or false
The Great Depression consisted of how many business cycles?
A) 1 B) 2 C) 3 D) 4
Who bears the costs of a program to control rents at a maximum level?
A) landlords or owners of housing units B) consumers who face difficulty moving to a more suitable apartment C) homeless who cannot find rental units D) all of these
The typical family on the Planet Econ consumes 10 pizzas, 7 pairs of jeans, and 20 gallons of milk. In 2016, pizzas cost $10 each, jeans cost $40 per pair, and milk cost $3 per gallon. In 2017, the price of pizzas increased to $14 each, while the price of jeans and milk remained the same. Between 2016 and 2017, a typical family's cost of living:
A. remained the same. B. increased by 9 percent. C. decreased by 9 percent. D. increased by 40 percent.