An increase in the income of bus riders, accompanied by a simultaneous increase in the wages of the bus drivers causes, the price for bus rides(an inferior good) _____________ and the quantity demanded for bus rides ____________

Valuing the quantities of goods produced in consecutive years using prices in both years and then averaging the percentage changes in the value of output is part of the ________ method of calculating real GDP

A) base-year B) moving-base-year C) chain-weighted output index D) fixed quantities/variable prices

If total costs are $18,000 for the year, and the firm has fixed costs of $12,000, what is the level of the firm's variable costs?

What will be an ideal response?