The figure above shows the market for airline tickets. If airline tickets are a normal good, then the recession in 2008 that caused people's incomes to decrease led to a shift from
A) D0 to D1.
B) D1 to D0.
C) S0 to S1.
D) S1 to S0.
A
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Suppose there are two types of labor, high skilled and low skilled
The demand curve for high skilled labor lies ________ the demand curve for low skilled labor and the supply curve of high skilled labor lies ________ the supply curve of low skilled labor. A) above; above B) above; below C) below; below D) below; above
You earn $500 a month, currently have $200 in currency, $100 in your checking account, $2,000 in your savings accounts, $3,000 worth of illiquid assets and $1,000 of debt. You have
A) money = $2,300, annual income = $6,000, and wealth = $5,000. B) money = $300, annual income = $6,000, and wealth = $4,300. C) money = $300, annual income = $6,000, and wealth = $5,000. D) money = $200, annual income = $500, and wealth = $4,300.
The marginal propensity to consume (MPC) is computed as the change in consumption divided by the change in:
a. GDP. b. income. c. saving. d. none of these.
What is a hierarchy?