A good that replaces another demanded good
a. elasticity of demand
b. substitution effect
c. law of demand
d. complement
e. substitute
Ans: e. substitute
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In the short run, an increase in market demand will usually lead to a(n)
a. decrease in price and an increase in quantity. b. decrease in price and a decrease in quantity. c. increase in price and an increase in quantity. d. increase in price and a decrease in quantity.
In 2005, about 5 percent of all members of the U.S. labor force were holding more than one job. This is called moonlighting. To reduce unemployment, should the government ban moonlighting?
What will be an ideal response?
Because stockholders are owners who risk their money in a corporate venture, they can be considered the corporation's
a. bondholders as well b. silent managers c. liability d. entrepreneurs e. non-paid employees
Briefly explain why China’s environment has declined so severely, and find an article or two from the popular press that updates the progress in reversing the trend.
What will be an ideal response?