The demand curve for on-demand videos has shifted to the right. What could have caused it?
A) A fall in the price of on-demand videos.
B) An increase in the price of on-demand videos.
C) An increase in the supply of on-demand videos.
D) An increase in the income of buyers.
Answer: D) An increase in the income of buyers.
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The invisible hand suggests that:
A) individuals working for self-interest will eventually maximize the well-being of society. B) equilibrium in a competitive market is determined independent of demand and supply. C) government intervention is necessary to rectify market imperfections. D) the price mechanism allocates resources only to the people with high income in the country.
Karl Marx was a(n):
a. 19th century German philosopher. b. 18th century Russian economist. c. 14th century Polish banker. d. 19th century Russian journalist.
If the quantity demanded of product S increases as the price of product T decreases, then S and T are complements
a. True b. False Indicate whether the statement is true or false
Under rent control, tenants can expect
a. lower rent and higher quality housing. b. lower rent and lower quality housing. c. higher rent and a shortage of rental housing. d. higher rent and a surplus of rental housing.