When housing prices increase, household wealth ________, and consumption ________.
A. decreases; decreases
B. increases; decreases
C. decreases; increases
D. increases; increases
Answer: D
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Assume a market is in equilibrium. There is an increase in supply, but no change in demand As a result the equilibrium price ________, and the equilibrium quantity ________
A) rises; increases B) rises; decreases C) rises; does not change D) falls; decreases E) falls; increases
A decrease in matching efficiency
A) can never happen. B) is due to a change in the productivity of firms. C) is not related to sectoral shocks. D) can explain the shift in the Beveridge curve.
Excess demand of a product exerts __________pressure on prices
a. Zero b. No c. Upward d. Downward
Which of the following will not change the demand for oranges?
A. A change in consumer's incomes B. A change in the price of grapefruits, a substitute for oranges C. A change in the price of oranges D. A change in consumers' taste for oranges E. An expectation that the price of oranges will increase in the future