Suppose that people decide riding scooters is no longer fun. The equilibrium price of a scooter ________, and the equilibrium quantity of scooters ________
A) rises; increases
B) rises; decreases
C) falls; increases
D) falls; decreases
E) does not change; decreases
D
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Suppose that Rosa is considering migration to another country. To move, she will have to spend $5000 on transportation and $4000 in application and other processing fees. Rosa's stream of future earnings in her home country is $500,000. She expects to earn a stream of future earnings of $800,000 in another country. Based on this information, Rosa will decide to migrate as long as the implicit costs of leaving her friends and family and adjusting to a new culture are:
A. Greater than $509,000 B. Less than $300,000 C. Less than $91,000 D. Less than $291,000
A change in the money wage rate shifts
A) both the SAS and LAS curves. B) the LAS curve but not the SAS curve. C) the SAS curve but not the LAS curve. D) neither the SAS nor the LAS curve.
Establishing a unit of value and establishing a standard means of payment are two functions of a monetary system
a. True b. False
Economic growth is an increase in the total output of an economy.
Answer the following statement true (T) or false (F)