The wages for Nike workers increases. At the same time, we see the price for Adidas shoes increase. How does this affect the market for Nike shoes?
a. The demand curve will shift to the left; the supply curve will shift to the left
b. The demand curve will shift to the left; the supply curve will shift to the right
c. The demand curve will shift to the right; the supply curve will shift to the left
d. The demand curve will shift to the right; the supply curve will shift to the right
c
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Which of the following statements is true?
A) Out of two loans, the interest accumulated after the end of a year will be more on the one that is a larger principal. B) Banks are the only financial institutions that lend money and do not accept deposits. C) Out of two loans, the interest accumulated after the end of a year will be more on the one that is a smaller principal. D) Banks are the only financial institutions that do not lend money but accept deposits.
To help pay for the cost of sport related injuries, the government imposes a tax on sellers of all sports equipment. The deadweight loss created by this tax would be greater than shown in the figure above if
A) the demand were more elastic. B) the supply were more elastic. C) neither of the above. D) both A and B above.
The sum of all of debit items in the balance of payments
A. equals "compensating" transactions. B. equals the errors and omissions. C. equals the overall balance. D. equals the sum of all credit items.
The cross-price elasticity of demand between good X and good Y is -0.8. Given this information, which of the following statements is true?
A. Goods X and Y are complements. B. The demand for goods X and Y is elastic. C. Goods X and Y are substitutes. D. The demand for goods X and Y is income elastic.