Every Friday night Elizabeth either goes bowling or goes to the movies. Because the price of bowling went up, Elizabeth now sees more movies. Elizabeth's behavior would be best described as a change in which determinant of demand?
a. Price of complementary goods
b. Expectations
c. Income
d. Number of buyers
e. Price of substitute goods
e
You might also like to view...
A nation's net exports consist of
A) its exports plus its imports. B) its exports plus all other nation's imports. C) its exports minus its imports. D) its imports plus all other nation's exports.
At a higher wage rate:
a. the opportunity cost of working increases. b. the opportunity cost of leisure increases. c. the opportunity cost of working decreases. d. the opportunity cost of leisure decreases.
In a graph of a typical firm's AFC, ATC, and AVC curves, the
A. AVC curve crosses the MC curve at the point where the MC is at its minimum. B. distance between the ATC curve and the AVC curve equals the AFC. C. distance between the AVC curve and the AFC curve equals the ATC. D. AVC curve lies above the ATC curve.
Which of the following is not correct? Using data from 2014,
a. immigrants (both legal and illegal) make up about 40 percent of the U.S. population. b. immigration lowers the earnings of native-born workers in the United States by about 1 to 3 percent. c. illegal immigrants make up about 5 percent of the U.S. workforce. d. today the largest percentage of immigrants come from Latin America and Asia, whereas in the 1950s and 1960s the largest percentage came from Europe.