Consumers eat salsa with taco chips. The price of salsa rises. How does the increase in the price of salsa affect the demand for taco chips?
A) It decreases the demand for taco chips.
B) It increases the demand for taco chips.
C) It has no effect on the demand for taco chips.
D) It will decrease the demand for taco chips only if taco chips are a normal good.
E) It could increase, decrease, or have no effect on the demand for taco chips, but more information is needed to determine the impact.
A
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In an economy, U = the number of adults who are unemployed, E = the number of adults who are employed, and NLF = the number of adults not in the labor force. The labor force participation rate in the economy is equal to: a. U/(U + E)
b. E/(U + E). c. U/(U + E + NLF). d. E/(U + E + NLF). e. (U + E)/(U + E + NLF).
money in the United States includes
What will be an ideal response?
The price elasticity of demand would most likely be the lowest for
A) a house. B) salt. C) a Toyota sport utility vehicle. D) Shell gasoline.
Which of the following is most subject to the lemons problem?
A. search goods B. credence goods C. homogeneous goods D. inferior goods