A decrease in the price of memberships to Gold's Gym fitness centers is likely to:
A. decrease the demand for workout clothing.
B. increase the demand for workout clothing.
C. decrease the demand for Gold's Gym memberships.
D. increase the demand for Gold's Gym memberships.
B. increase the demand for workout clothing.
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Which of the following results in a movement along the supply curve of spinach but does not shift the supply curve of spinach?
A) disastrous weather that destroys half of this year's spinach crop B) a rise in the price of spinach C) an increase in wages for workers in spinach fields D) great weather that produces a bumper spinach crop this year
Which of the following statements is true?
A) Theories are statistics that describe the real world. B) Hypotheses are predictions that can be tested with data. C) Data are facts established by observation and measurement. D) Empirical evidences are facts, measurements, or statistics that describe the world.
A major stumbling block to the completion of the Uruguay Round was a disagreement between the United States and the EU over rules covering international trade in
A) services. B) steel. C) agricultural products. D) textiles.
Refer to the Economics in Practice on page 360. Sometimes the lack of information in an advertisement serves as a signal.
Answer the following statement true (T) or false (F)