If the price of motel rooms increases by 10 percent while the prices of other goods and services increase by 5 percent on average, the relative price of motel rooms has:
A. decreased by 10 percent.
B. increased.
C. remained constant.
D. decreased by 5 percent.
Answer: B
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A change in price will lead to a change in __________ and to a change in __________, while a change in government subsidies will lead to a change in __________ and a change in the number of buyers will lead to a change in __________
A) quantity demanded; quantity supplied; supply; demand B) demand; quantity supplied; supply; quantity demanded C) quantity demanded; supply; quantity supplied; demand D) quantity supplied; quantity demanded; demand; supply E) quantity demanded; demand; quantity supplied; supply
Transfer payments include all of the following except
A. Social Security benefits for retirees. B. A church-run thrift store for the poor. C. Federal crop assistance for farmers. D. Government-subsidized loans for students.
When the transactions costs involved in putting a project together exceed the difference in the value of land with the project completed and the value of the land without the project, the project should be undertaken
Indicate whether the statement is true or false
Using demand and supply curves for the Japanese yen based on the $/¥ price for yen, an increase in US INFLATION RATES would
a. Decrease the demand for yen and decrease the supply of the yen. b. Increase the demand for yen and decrease the supply of the yen. c. Increase the demand and increase the supply of yen. d. Decrease both the supply and the demand of yen. e. Have no impact on the demand or supply of the yen.