During the colonial period,
(a) both men and women married on average during their teenage years.
(b) women married on average during their teenage years and men during their early 20s.
(c) both men and women married on average at ages between 20 and 25.
(d) both men and women married on average during their late 20s.
(c)
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"The price of digital cameras fell because of improvements in production technology. As a result, the demand for non-digital cameras decreased
This caused the price of non-digital cameras to fall; as the price of non-digital cameras fell the demand for non-digital cameras decreased even further." Evaluate this statement. A) The statement is false because digital camera producers would not reduce their prices as a result of improvements in technology; doing so would reduce their profits. B) The statement is false because the demand for non-digital cameras would increase as the price of digital cameras fell. C) The statement is false. A decrease in the price of digital cameras would decrease the demand for non-digital cameras, but a decrease in the price of non-digital cameras would not cause the demand for non-digital cameras to decrease. D) The statement is false because it confuses the law of demand with the law of supply.
Which of the following provides a tool by which you can measure overall price changes paid by representative individuals living in urban households?
(a) The GDP Deflator ( NGDP/RGDP 100, expressed as a percentage ) (b) The Producer Price Index (c) The Consumer Price Index (d) The Housing Price Index