Assuming that beef and chicken are substitutes, an increase in the price of beef, other things being equal, will:
a. increase the demand for chicken. b. decrease the demand for chicken.
c. not change the demand for chicken. d. decrease the demand for beef.
a
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We have run merchandise trade deficits of over $70 billion since
A. 1963. B. 1969. C. 1973. D. 1983.
If in the short run the demand for mass transit is inelastic and in the long run the demand is elastic, then a price:
A. Increase will decrease total revenue in the short run but increase total revenue in the long run B. Increase will increase total revenue in the short run but decrease total revenue in the long run C. Decrease will increase total revenue in the short run but decrease total revenue in the long run D. Decrease will decrease total revenue in the short run and decrease total revenue in the long run
Explain why increasing the government budget deficit can decrease investment spending
What will be an ideal response?
Critical care surgeons get paid higher salaries than family doctors because
a. they usually work under highly stressful conditions b. they usually have to get longer training c. they usually work uncertain hours d. all of the above