Assume that the hourly price for the services of personal trainers has risen and sales of these services have also risen. One can conclude that
A) the law of demand has been violated.
B) the number of personal trainers has increased.
C) the demand for personal trainers has increased.
D) personal trainers are deliberately charging high prices because they provide services for wealthy clients.
Answer: C
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A new technological innovation would increase
a. the labor force. b. labor hours worked. c. labor productivity. d. population growth.
Which of the following is NOT considered a determinant of income differences?
A) productivity B) age C) discrimination D) equity or fairness
Do deficits lead to inflation?
What will be an ideal response?
Sergio's rentals of Blu-ray movies increase by 10 percent when her income increases by 30 percent. Based on this information, we know that for Sergio, Blu-ray movies
A) are complements. B) are substitutes. C) are inferior goods. D) have an inelastic demand. E) are normal goods.