If an increase in the incomes of people who live in the Los Angeles area leads to an increase in the demand for season tickets for games played by the Los Angeles Lakers professional basketball team, then these season tickets are
A) a normal good.
B) an inferior good.
C) an income complement.
D) an income substitute.
A
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Demand-pull inflation is caused by a rightward shift of the aggregate demand curve
a. True b. False Indicate whether the statement is true or false
Angela, Bonnie, and Carl are visiting the local paint store. Angela, owner of Angela's Artful Painting Co, is posting a Help Wanted sign because she is looking for more painters to join her crew. Bonnie, who is a sole proprietor, is placing an order for 12 gallons of green paint. Carl is a painter who is looking for a job and is reading the bulletin board in the paint shop. Who is operating in
the long run? a. Angela only b. Bonnie only c. Carl only d. Carl and Angela e. no one is operating in the long run
Which of the following would cause a decrease in the demand for U.S. dollars?
a. an economic boom in the United States b. an economic boom in Europe c. increased vacations in the United States by Europeans d. a recession in Europe
How is per capita GDP calculated, and what does it tell us about the economy?
What will be an ideal response?