Holding demand constant, an increase in supply leads to
A) lower prices and higher quantity demanded.
B) lower prices and lower quantity demanded.
C) higher prices and higher quantity demanded.
D) higher prices and lower quantity demanded.
A
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How is leisure treated in the calculation of GDP of an economy? Does such a calculation imply that GDP is good measure of well-being? Why or why not?
What will be an ideal response?
Which of the following cannot be used to justify efficiency wages
a. Sticky price (menu cost) models b. turnover costs c. worker shirking d. worker morale
When a unit tax is placed on suppliers they are generally able to _____
a. lobby to get the tax repealed b. shift the tax payment to the demanders c. shift part of the tax burden to the demanders in the form of a secondary tax d. shift part of the tax burden to the demanders in the form of a higher price
Used car dealerships add nothing to GDP because the cars they sell were already recorded in GDP when they were new
a. True b. False