If your income goes up by 2% and, in response, the quantity demanded of good x falls by 3%, the good x can be considered
a. An inferior good
b. A normal good
c. A public good
d. A private good
a
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If a market is NOT in equilibrium, then which of the following is likely to occur?
A) The demand curve will shift to bring the market to equilibrium. B) The supply curve will shift to bring the market to equilibrium. C) The price will adjust to bring the market to equilibrium. D) Both A and B are correct.
Why does the structure of a corporate business complicate the analysis of a strategy?
Which of the following will result in the greatest deadweight loss from tax?
a. A tax on gasoline b. A tax on Porsche cars c. A tax on salt d. A tax on cigarettes
Technological advances can cause the labor demand curve to shift
a. True b. False Indicate whether the statement is true or false