Holding all other factors constant, consumers demand more of a good the
A) higher its price.
B) lower its price.
C) steeper the downward slope of the demand curve.
D) steeper the upward slope of the demand curve.
B
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According to the logic of the wage-price spiral, an increase in wages leads to ____________ in ___________, which in turn leads to _______ in _________.
Fill in the blank(s) with the appropriate word(s).
Refer to Figure 24-2. Ceteris paribus, an increase in the price level would be represented by a movement from
A) SRAS1 to SRAS2. B) SRAS2 to SRAS1. C) point A to point B. D) point B to point A.
The long run success of a collusion a. Is limited by ease of entry into the industry
b. Is enhanced by ease of entry into the industry. c. Is unaffected by the ease of entry into the industry. d. Could be either limited by or enhanced by ease of entry into the industry.
Suppose your management professor has been offered a corporate job with a 30 percent pay increase. He has decided to take the job. For him, the marginal
a. cost of leaving was greater than the marginal benefit. b. benefit of leaving was greater than the marginal cost. c. benefit of teaching was greater than the marginal cost. d. All of the above are correct.