Assume that the hourly price for the services of personal trainers has risen and sales of these services have also risen. One can conclude that
A) personal trainers are deliberately charging high prices because they provide services for wealthy clients.
B) the demand for personal trainers has increased.
C) the law of demand has been violated.
D) the number of personal trainers has increased.
B
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The dollar value of final output
A) is equal to total income. B) is less than total income. C) equals profits. D) is greater than total income.
Tonya, who is rich, and Jerome, who is poorer, both buy orange juice and croissants for lunch at the student cafeteria. Their budget constraints on a diagram with orange juice on the vertical axis and croissants on the horizontal have the same
A) horizontal intercepts. B) vertical intercepts. C) slopes. D) midpoints.
Which of the following CORRECTLY describes the above figure?
A) There is no relationship between x and y. B) There is a positive relationship between x and y. C) There is a negative relationship between x and y. D) None of the above answers are correct.
A country that is experiencing a balance of payments deficit can correct this situation by:
A. revaluing its currency. B. devaluing its currency. C. keeping its peg as long as possible. D. abandoning its currency in favor of the US dollar or the euro.