The expenditure approach values ________ and the income approach values ________
A) goods and services at market prices; goods and services at factor prices
B) services only at factor prices; goods only at market prices
C) only goods at market prices; only services at factor prices
D) goods and services at market prices; services at factor prices
E) goods and services at factor prices; goods and services at market prices
A
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A worker is unemployed if he:
A) has been working part-time and has been actively looking for full-time work. B) does not have a job and is not actively looking for a job. C) is working from home and drawing a weekly salary. D) does not have a job and has been actively looking for one in the prior four weeks and is available for work.
Tastes are starting to change for hybrid vehicles such that consumers are purchasing more hybrid vehicles and suppliers are choosing to produce more hybrid vehicles than they were five years ago
Due to the change in tastes, equilibrium price has fallen and equilibrium quantity has increased relative to the hybrid market from five years ago. What is the likely cause of this result? A) Supply increased by more than demand. B) Demand increased by more than supply. C) Demand and supply increased by the same amount. D) Only supply increased.