As a result of the decrease in donut prices at Real Yum Donuts, Dippin Donuts managers discover that the demand for their donuts has:
a. increased
b. decreased.
c. not changed.
d. none of the above
b
Economics
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Suppose Paris thinks a 5 percent increase in her hourly wage as an incentive to work more hours while the price level also increases by 5 percent. Paris is said to be suffering from
A) money illusion. B) rationality. C) irrationality. D) the effects of competition.
Economics
A house is a private good because it is nonrival and nonexcludable
Indicate whether the statement is true or false
Economics
The portion of income which is earned in the form of wages for labor is about
a. 15% b. 35% c. 51% d. 60%
Economics
Which of the following is an accurate rough translation of ceteris paribus?
a. “supporting the same idea” b. “making everything else different” c. “holding everything else constant” d. “challenging the same idea”
Economics