Suppose a college increases the wages paid to student employees. Which of the following options is the best description of the most likely effect of the increase in wage earnings on the demand curve for school sweatshirts in the bookstore?
A) The demand curve shifts to the right.
B) The demand curve shifts to the left.
C) a leftward movement along the demand curve
D) a rightward movement along the demand curve
Answer: A
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A) above; alleviates B) above; brings on C) below; alleviates D) below; brings on
When two goods are substitutes for each other, the cross price elasticity of demand
A) will be negative. B) will be zero. C) may be either positive or negative. D) will be positive.
If the government enacts contractionary fiscal policy, it is most likely at which of the following equilibria in the graph shown?
A. A
B. B
C. C
D. D
What has been the general approach to the enforcement of antitrust laws based on the type of mergers and price fixing among firms?
What will be an ideal response?