Which of the following is least likely to increase the demand for new tires?
A. a decrease in the price of tires
B. a decrease in the price of cars
C. an increase in consumer income
D. an increase in the number of miles people drive per year
Answer: A
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Tara, a pharmacist, is planning on opening her own pharmacy. Tara currently earns $50,000 a year at her job. She has calculated that it will cost her $6,000 in rent and utilities and $25,000 for an assistant per year to run her pharmacy
What is the amount of opportunity cost that Tara incurs in running her own pharmacy? A) $31,000 B) $25,000 C) $50,000 D) $81,000
The overall welfare effects of trade are ________ if ________
A) positive; those who gain can compensate those who lose and still be better off B) positive; more people gain from trade than lose from it C) negative; some people are made worse off by trade D) negative; those who lose can compel those who gain to compensate them for their losses E) positive; the domestic economy grows faster than do foreign economies
Suppose you invest $100,000 in a new machine today, and you earn a $150,000 return in one year. What is the internal rate of return on this investment?
A) 10 percent B) 25 percent C) 50 percent D) 100 percent
If demand is relatively elastic and supply is relatively inelastic, then the incidence of a tax will fall mainly on consumers
a. True b. False Indicate whether the statement is true or false