Which of the following is not an example of a derived demand?
A) Several of the animated films released between 1999 and 2001 failed to earn a profit, which caused some companies to stop making these films, thereby decreasing the demand for animators.
B) As advancements in medical technology increase the safety and success of laser eye surgery, the demand for opticians has decreased.
C) Millicent Manning, the owner of a furniture store, is concerned that her sales have fallen for the past six months. She attributes this to the downturn in the real estate market.
D) Seth Bullock, a personal-injury attorney, complains that he is earning far less now than a few years ago largely because personal injury cases have been undercut by state laws limiting class-action suits and payouts on damages.
C
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Published in 1776, ________ was written by Adam Smith
A) "An Inquiry into the Nature and Causes of the Wealth of Nations" B) "The Declaration of Economics" C) "The General Theory of Employment, Interest, and Money" D) "The Communist Manifesto"
Regulation imposed by such organizations as the Food and Drug Administration or the Environmental Protection Agency seeking to protect the welfare of people in our nation is referred to as
A) moral regulation. B) natural regulation. C) rate-of-return regulation. D) social regulation.