An increase in the demand for bubble gum might be caused by
A. the fact that blowing bubbles is now a popular activity.
B. the fact that blowing bubbles is now an unpopular activity.
C. a decrease in the number of people chewing gum.
D. a decrease in income, assuming bubble gum is a normal good.
Answer: A
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Explain how usury laws distort the market for funds. What is the most likely result if a usury law is passed and enforced?
Suppose the economy was initially in a long-run equilibrium. Then the world economy expands so that foreign income rises. U.S. aggregate demand ... and eventually the money wage rate ...
What will be an ideal response?
The four main types of market structure are
A. marginal cost, marginal revenue, product, and price. B. average product, average cost, long run, and short run. C. land, labor, capital, and business know-how. D. perfect competition, monopolistic competition, oligopoly, and monopoly.
A year-long drought that destroys most wheat crops for the season would shift the:
A. short-run aggregate supply curve only. B. aggregate demand curve only. C. aggregate demand curve, and the short-run aggregate supply curve would shift in response. D. short-run aggregate supply curve and the long-run aggregate supply curve.