A huge 50 percent off sale on golf clubs is advertised for next week. What happens this week in the market for golf clubs?
A) The supply of golf clubs decreases.
B) The demand for golf clubs increases.
C) The demand for golf clubs decreases.
D) The supply of golf clubs increases.
E) The demand for and the supply of golf clubs decreases.
C
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If producers have an expectation of higher future prices, the supply of the good that is currently available
A) will be all that is produced. B) will decrease. C) will not change. D) will increase.
Ace has always been a top student, so it was no surprise he won a $1,500 scholarship from the company where he worked summers to help with college expenses. Ace decides to spend his scholarship money on a new Apple MacBook. How will GDP be affected by Ace's recent purchases?
A. Consumption will go up by $1,500, because a computer is a durable good. B. Investment will go up by $1,500, because a computer is a durable good. C. GDP will not be affected, since Ace acquired the computer with scholarship money. D. Consumption will go up by $1,500, because a computer is a nondurable good.
Competition among sellers and government diffuses economic power within the economic units that make up an economy.
Indicate whether the statement is true or false
What are the main characteristics of modern economic growth? What is the effect of modern economic growth on the cultural, social and political arrangements of our times?
Please provide the best answer for the statement.