Which of the following would lead to an increase in the supply of ethnic restaurants in a college town?
A) An increase in the wages paid to restaurant workers
B) An increase in the price of American chain restaurants, and consumers regard American chain restaurants and ethnic restaurants as substitutes
C) An increase in the demand for ethnic restaurants
D) All of the above.
E) None of the above.
E
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Which of the following is a stock variable?
A) money supply B) wealth C) public debt D) all of the above
Psychology and sociology focus on what creates desires for goods, but economics focuses on what consumers actually purchase.
Answer the following statement true (T) or false (F)
Some online penny auctions charge a fee, such as $1, for every bid placed. Why should these costs of $1 per bid be considered sunk costs? Would it be smart for someone who has "already invested $5 in bidding costs" to keep bidding to "protect his or her
sunk investments"? Why or why not? What will be an ideal response?
If greater stock prices can lead to greater investment spending, should central bankers ever worry about stock prices becoming too high?
What will be an ideal response?