A university raises annual tuition by 10 percent. No other events have occurred, and the university's revenues have increased. It must be TRUE that
A) the associated change in quantity demanded was smaller than 10 percent.
B) the associated change in quantity demanded was equal to 10 percent.
C) the associated change in quantity demanded was greater than 10 percent.
D) there was no associated change in quantity demanded.
A
You might also like to view...
In analyzing macroeconomic data during the past year, you have discovered that average labor productivity fell, but total output increased. What was most likely to have caused this?
A) There is nothing unusual in this outcome because this is what normally occurs. B) The capital—output ratio probably rose. C) There was an increase in labor input. D) Unemployment probably increased.
Which of the following positions might be taken by the ruler of a nation practicing mercantilism?
a. support of the merchant marine sector b. support for the elimination of trade barriers such as tariffs c. support for the reduction of government holdings of specie d. discouragement of exploration and colonization e. All of the above.
Railroad construction in the late 19th century:
a. added little to economic fluctuations. b. strongly influenced capital formation. c. caused the three major financial crisis of that era. d. All of the above are correct. e. Only b and c are correct.
When trying out for the football team, the coach may have candidates run a lap around the track. This is an example of:
A. signaling. B. training. C. strength building. D. screening.