As the price level rises, ceteris paribus, people holding some of their wealth in monetary form become
A) less wealthy and they buy less.
B) more wealthy and they buy more.
C) less wealthy and they buy more.
D) more wealthy and they buy less.
A
Economics
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Suppose the average productivity of workers in Country A is equal to that of workers in Country B. If Country A has higher total efficiency units of labor than Country B, it implies that ________
A) Country B has a larger supply of workers B) Country A has a larger supply of workers C) Country B has a larger stock of capital D) Country A has a larger stock of capital
Economics
Calculate the income elasticity of demand for DVDs, where a 10 percent increase in income results in a 20 percent increase in the demand for DVDs. Decide from your answer, whether DVDs are normal or inferior goods
Economics