Suppose the relative price of Ford F150 pickup trucks has risen over the past decade. Yet, even at the higher price, more F150 pickups have been sold. What would an economist conclude?
A) The supply of F150 pickups is downward-sloping.
B) The demand for F 150 pickups is upward-sloping.
C) Buyers of F150 pickups are acting irrationally.
D) All of the above are true.
E) None of the above is true.
E
Economics
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A rise in the U.S. price level brings a ________ in the price of U.S. exports relative to imports that ________ exports of U.S. goods, bringing ________ in the quantity of U.S. real GDP demanded
A) fall; increases; an increase B) rise; decreases; a decrease C) fall; decreases; a decrease D) rise; increases; a decrease E) rise; increases; an increase
Economics
On average, college graduates earn significantly more income than those with less education and the disparity tends to widen into middle age
a. True b. False
Economics