If prices in the economy rise, then
A) the purchasing power of a dollar stays constant.
B) the purchasing power of a dollar rises.
C) the purchasing power of a dollar declines.
D) the purchasing power of a dollar cannot be determined.
C
Economics
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The labor supply curve is:
A) horizontal. B) downward sloping. C) vertical. D) upward sloping.
Economics
Suppose you want to buy a popular brand of digital camera. Every store in town is out of stock. You are willing and able to pay the current market price of $300 for a camera, but you cannot find any available
Is the market for the digital camera in equilibrium? If not, is the market equilibrium price of the camera above or below $300? Use supply and demand analysis to explain your answer.
Economics