Suppose the residents of Metropolis travel to work either by bus or train. If the price of train tickets increases, then:
A. the demand for train tickets will decrease.
B. the demand for train tickets will increase.
C. the demand for bus tickets will decrease.
D. the demand for bus tickets will increase.
Answer: D
You might also like to view...
At the time of the Civil War the most important crop in the South was _________.
Fill in the blank(s) with the appropriate word(s).
For federally chartered banks, the "primary" federal regulator is the
A) Federal Reserve. B) FDIC. C) House Banking Committee. D) Comptroller of the Currency.
A useful economic model
a. deals only with possibilities that actually occurred. b. makes only realistic assumptions. c. may make some unrealistic assumptions in order to simplify a complex reality. d. should avoid drawing conclusions that have public policy implications, since economics is not equipped to make value judgments.
Which of the following is the main barometer used by the Business Cycle Dating Committee of the National Bureau of Economic Research in determining if the economy has reached a peak?
A. Employment, based on non-farm payrolls B. Industrial production C. Personal income minus government transfer payments D. Manufacturing and trade revenue