The Law of Demand is the reason behind:
A) the price elasticity of demand having a positive value.
B) the income elasticity of demand having a positive value.
C) the price elasticity of demand having a negative value.
D) the income elasticity of demand having a negative value.
C
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If unions were formed in more industries, the supply of labor in other industries would
a. increase, causing employment in other industries to rise. b. increase, causing employment in other industries to fall. c. decrease, causing employment in other industries to rise. d. decrease, causing employment in other industries to fall.
In a "black market,"
A. suppliers take advantage of buyers. B. price is illegally below market price. C. only illegal goods and services are traded. D. illegal trading at market prices takes place.