Which of the following will cause a movement along the demand curve instead of a shift of the demand curve?
A) income
B) tastes and preferences
C) Expectations e the future price of a good
D) none of the above
Answer: D
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The above figure represents the market for professional minor-league baseball umpires
a) If umpires are offered $90 a game, what is the quantity of umpires supplied? b) If umpires are offered $90 a game, is there a surplus or shortage of games umpired? What does the shortage or surplus equal? c) What is the equilibrium wage rate and quantity of umpires?
The price of a good always changes when
A) either a shortage or a surplus occurs. B) quantity demanded and quantity supplied are constant. C) there is an increase in demand and an increase in supply. D) there is a decrease in demand and a decrease in supply.
Suppose the relationship between a person's age and his or her height is plotted with the age measured along the x-axis and the height measured along the y-axis. Then, the curve showing this relationship is
A) a straight line with a positive slope. B) positively sloped and becoming less stee
If (T ? G) = (X ? IM), then (S ? I)
a. is greater than zero. b. is zero. c. is less than zero. d. cannot be calculated.