In recession years, ________ jobs are lost than created, and vacancies and job openings ________
A) more; increase
B) more; decline
C) fewer; decline
D) fewer; increase
B
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In 2015, the U.S. auto industry experienced rising sales. The automobile industry was experiencing the effects of
A) the underground economy. B) inflation. C) the business cycle. D) depreciation.
The substitution effect measures
A) the responses of quantities to changes in the relative prices of goods. B) the responses of relative prices to changes in the demand for goods. C) how two goods can be used for the same purpose. D) the responses of quantities to changes in the relative qualities of goods.
A demand curve that shows the relationship between the price of a good and the amount of the good consumed holding the consumer's well-being fixed and allowing their to income vary is called:
A. an uncompensated demand curve. B. a compensated demand curve. C. a Marshallian demand curve. D. a derived demand curve.
When the value of a product to each user, including existing users, increases due to an increase in the total number of users, we refer to this as:
A. Income transfer B. Price discrimination C. Simultaneous consumption D. Network effects