Assume there is a simultaneous decrease in the incomes of people in the market for new homes and a decrease in the wages paid to carpenters, plumbers, and electricians
All else constant, we can predict, with certainty, that in the market for new homes the equilibrium: A) quantity of new homes will decrease.
B) quantity of new homes will increase.
C) price of new homes will decrease.
D) price of new homes will increase.
C
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What does the Gauss-Markov theorem prove? Without giving mathematical details, explain how the proof proceeds. What is its importance?
What will be an ideal response?
To convert nominal economic data from several different years into real, inflation-adjusted data, the starting point is to choose a ____________ year.
a. base b. future c. past d. compliant
The question of how a tax change might impact U.S. economic output is most closely associated with the study of
A) microeconomics. B) managerial economics. C) macroeconomics. D) consumer economics.
Suppose that Bill Toney, a tobacco farmer near Roanoke, Virginia has assets of $50 million and liabilities of $38 million. What is the equity for this tobacco farmer?
A) $50 million B) $88 million C) $6 million D) $12 million