In the figure above, ceteris paribus, an increase in x is associated with
A) an increase in y.
B) a decrease in y.
C) an increase in z.
D) a random change in z.
E) no change in either y or z.
B
You might also like to view...
The demand schedules for such products as eggs, bread, and electricity tend to be
A. relatively elastic. B. perfectly elastic. C. unit-elastic. D. relatively inelastic.
Which of the following describes what happened to the economy of the South after the Civil War?
A. The South, with the aid of new capital investment, public and private, became industrialized two decades after the Civil War. B. The transcontinental railroads that were completed in the 1860s, 1870s, and 1880s played a key role in the industrialization of the South in the 1880s and 1890s. C. The South remained the poorest region in the country until the growth of the Sun Belt took off in the 1960s. D. The South remained a largely agricultural section of the economy until the 21st century.
The above figure shows the market for 2 bedroom town homes in San Diego. If a rent ceiling is set at $1,000 per month, then there is a
A) surplus equal to 150,000 town homes. B) shortage equal to 100,000 town homes. C) surplus equal to 100,000 town homes. D) shortage equal to 150,000 town homes. E) shortage equal to 250,000 town homes.
Disney World decides to charge local residents a lower price than other park visitors. This would fall under which field of economics?
A. Macroeconomics B. Public policy C. Customer service D. Microeconomics