If the demand for a good increases by more than the supply of the good increases, then the good's equilibrium price will __________ and its equilibrium quantity will __________
A) rise; fall
B) rise; rise
C) fall; fall
D) fall; rise
B
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Since 1997, the labor force participation rate for women in the United States has
A) decreased more than 20 percent. B) increased more than 10 percent. C) remained virtually constant. D) equaled the participation rate for men.
How does the income approach to measuring GDP differ from the expenditure approach? Explain the meaning of value added and its importance in the income approach. What are the leakages from and injections into the circular flow? How are leakages and injections related in the circular flow?
What will be an ideal response?
Governments in market economies usually have significant control over
A. investment spending. B. personal consumption spending. C. import spending. D. education spending.
Which of the following measures the effect a price change of a good will have on the desire for another good?
a. equilibrium elasticity of demand b. cross-price elasticity of demand c. revenue elasticity of demand d. income elasticity of demand