If the average price of a car suddenly changes from $15,000 to $25,000, larger, more remote stores with lower prices are ________ to have a(n) ________ in the number of customers.
A) not likely; change
B) likely; decrease
C) likely; increase
D) not likely; decrease
B) likely; decrease
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If the price of peanuts increases by 10 percent and the price of potato chips does not change, then the relative price of peanuts with respect to potato chips will ________ and the relative price of potato chips with respect to peanuts will ________
A) rise; rise B) rise; fall C) fall; rise D) fall; fall
A $1,000 price tag on a stereo system is an example of money as a unit of account
a. True b. False Indicate whether the statement is true or false
If you marry your electrician:
a. Real and nominal GDP rise. b. Real GDP rises but nominal GDP falls. c. Real GDP falls, but nominal GDP rises. d. Real and nominal GDP fall. e. There is no change in real or nominal GDP.
Which of the following statements best describes the problem of stagflation?
A. Both inflation and economic expansion are occurring simultaneously. B. Prices are falling at the same time aggregate output is increasing. C. It is a period where both prices and unemployment increase simultaneously. D. There are unrestricted increases in aggregate demand along a vertical aggregate supply curve.