To change the definition of demand to the definition of supply, all we would need to do is change the word _____ to _____.
Fill in the blank(s) with the appropriate word(s).
buy; sell
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Consider the figure to the right and assume that it is the market for health-care services. when the "baby boomer" generation retires, the number of people who require health care increases by 30%, and, as a result, the number of health-care providers also increases, but by only 25% What is the effect on the price of health care services over time?
A. it increases because demand increases by more than supply B. it decreases because demand increased by less than supply C. it increases because demand increased by less than supply D. it decreases because demand increased by more than supply
(Consider This) Ticket scalping implies that:
A. event sponsors have established ticket prices at above-equilibrium levels. B. an event is not likely to be sold out. C. event sponsors have established ticket prices at below-equilibrium levels. D. the demand for tickets has fallen between the time tickets were originally sold and the event takes place.
Match each of the following jobs to its major area: forecasting, analysis, research, or data development. Explain your answers.(a)Economist at university, testing theories about the efficient allocation of resources in the foreign exchange market(b)Economist at Wall Street firm trying to predict the rate of inflation next year using past data(c)Economist at auto firm looking at demand for new automobiles(d)Economist at the International Trade Commission trying to determine whether foreign firms are dumping goods in the United States(e)Economist at the Commerce Department developing new methods for calculating price indexes(f)Economist consulting in Eastern Europe about how to set up free-market financial systems
What will be an ideal response?
________ in the foreign interest rate causes the demand for domestic assets to decrease and the domestic currency to ________, everything else held constant
A) An increase; appreciate B) An increase; depreciate C) A decrease; appreciate D) A decrease; depreciate