The relative price of a smartphone is
A. the price of the smartphone compared with what students think it should cost.
B. what the company earned for selling the smartphone.
C. the money price of the smartphone divided by the money price of some other good.
D. the amount it cost to make the smartphone.
Answer: C
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A decrease in the demand for labor will ________ real wages and ________ employment
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
A usury rate is like a price ceiling
a. True b. False Indicate whether the statement is true or false
If consumption increases,
A) the SRAS curve will shift rightward, which will push the price level up. B) the SRAS curve will shift leftward, which will push the price level up. C) the AD curve will shift leftward, which will push the price level down. D) the AD curve will shift rightward, which will push the price level up.
Which of the following is considered a microeconomic issue?
A. France's growth rate in the last year. B. The unemployment rate in the US from 1980-2014. C. Apple releases a new version of the iPhone. D. All of these are examples of microeconomic issues.