If the demand for a product increases, we would expect that price will initially ________, and eventually ________.
A. rise; fall
B. rise; continue to rise
C. fall; rise
D. fall; continue to fall
Answer: A
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Due to ongoing drought conditions, many cities in Texas have implemented water conservation measures which prevent homeowners from watering their lawns more than two times per month. Prior to the drought conditions, no restrictions were in place
Discuss this measure from the villain/victim standpoint. Explain who the villains and victims are, and if they really are villains and victims?
In September 2006, the Food and Drug Administration recommended that Americans avoid eating bagged raw spinach in the wake of an outbreak of E. coli bacteria
Following this recommendation, the food industry looked at alternatives and many turned to arugula. One Chicago distributor claimed, "The sale of the stuff has gone through the roof." Based on this information A) the cross-price elasticity between arugula and spinach is negative. B) the cross-price elasticity between arugula and spinach is positive. C) the price elasticity of arugula is positive while the price elasticity of spinach falls to zero. D) arugula is a normal good while raw spinach is an inferior good.
Which of the following is an example of a horizontal merger?
A) Northeastern Illinois University merging with McDonald's. B) Northeastern Illinois University merging with a training academy for new professors. C) Northeastern Illinois University merging with Roosevelt University. D) Northeastern Illinois University going from a public to a private university.
Policies to increase the supply of money in the economy are primarily a concern of microeconomics
a. True b. False Indicate whether the statement is true or false