Ceteris paribus, a change in the price of a good always results in a change in:
a. income.
b. tastes.
c. quantity demanded.
d. both income and tastes.
e. the price of other goods.
c
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When a foreign investor buys a bond issued in the United States,
A) the balance on the financial account increases. B) the balance of trade increases. C) the balance on the current account increases. D) the balance on the capital account increases.
The utilitarian view of equity would lead to:
A) equal allocations of goods across all persons. B) maximizing the utility of the least-well-off person. C) maximizing the total utility of all society members. D) none of the above
Suppose Ernie gives up his job as financial advisor for P.E.T.S., at which he earned $30,000 per year, to open up a store selling spot remover to Dalmatians. He invested $10,000 in the store, which had been in savings earning 5 percent interest. This year's revenues in the new business were $50,000 . and explicit costs were $10,000 . Calculate Ernie's economic profit
a. $10,000 b. $50,000 c. $20,000 d. $40,000 e. $9,500
Which of the following is related to the additional revenues business owners expect to enjoy as a result of hiring the employee?
A. the wages for Wendy Peffercorn, a cashier at the Piggly Wiggly B. the salary of Dallas Mavericks' player Dirk Nowitski C. the signing bonus for Saul Goodman, a new attorney at the Hamlin, Hamlin, and McGill law firm D. All of the above are correct.