In the United States the poorest 20 percent of households receive about ________ of total income

Refer to Figure 17-1. Suppose the market price of doilies rises to $3. What happens to the curve given in the diagram?

A) There will be a movement along the curve. B) Nothing, because labor's productivity has not changed. C) The curve shifts to the right. D) We cannot answer the question without knowing if Dale would want to hire more workers.

If the demand for a product falls and the supply stays the same

A) the market clearing price will fall and the equilibrium quantity will rise. B) the market clearing price will rise and the equilibrium quantity will fall. C) both the market clearing price and the equilibrium quantity will fall. D) both the market clearing price and the equilibrium quantity will rise.