Each of the following can cause a change in demand except
A. changes in income.
B. changes in the prices of related goods and services.
C. changes in tastes and preferences.
D. changes in taxes.
D. changes in taxes.
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A farmer discovers that the total cost of growing 50 acres of eggplant is $50,000 and that the total cost of growing 51 acres of eggplant is $52,000. The marginal cost of the 51st acre of eggplant is
A) $52,000. B) $50,000. C) $2,000. D) $1,000.
What other markets were affected by the decline in the housing market beginning in 2006? Briefly explain why
What will be an ideal response?
The velocity of money is the:
a. rate at which the price index for consumer goods rises. b. multiple by which an increase in government expenditures will cause output to expand. c. average number of times a dollar is used to buy goods and services included in GDP. d. number of times a dollar is taken out of the country during a year.
Economists perceive a college applicant's grade point average and standardized test scores (such as SAT and ACT scores) to be rationing devices
Indicate whether the statement is true or false