If the price of hot dogs increases, what will happen in the market for potato chips, a complementary good?
a. Demand will increase.
b. Quantity demanded will increase.
c. Demand will decrease.
d. Quantity demanded will decrease.
e. Supply will decrease.
c
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Economists
A) describe reducing tariffs and quotas as shallow integration. B) describe reducing tariffs and quotas as deep integration. C) believe that changing domestic policies affecting trade is a relatively simple process. D) believe that the work of reducing trade barriers is done since most tariffs are low and most quotas eliminated. E) believe the original motivation for nations forming domestic policies and regulations was to create trade barriers to foreign companies.
Agreeing to take a drug test offered by a potential employer is a method of:
A. signaling. B. screening. C. statistical discrimination. D. building a reputation.
An unanticipated increase in the level of prices in the goods and services market, which results in a temporary reduction in real wage rates, will
a. decrease the natural rate of unemployment. b. increase the natural rate of unemployment. c. result in an actual rate of unemployment that is less than the natural rate of unemployment. d. result in an actual rate of unemployment that is greater than the natural rate of unemployment.
Which of the following would be evidence of an increase in income inequality over time in the United States?
A. An increase in the percentage of total household income received by the lowest quintile B. An increase in the percentage of total household income received by the highest quintile C. An increase in the percentage of total household income received by the four lowest quintiles D. A decrease in the percentage of total household income received by the highest quintile