If the price of pizzas has risen from $4 to $5 at the same time that the price of an hour of aerobics class has risen from $20 to $30, then
a. pizzas have become relatively more expensive.
b. aerobics classes have become relatively more expensive.
c. the relative prices of pizzas and aerobics classes have remained constant.
d. workers' real income must have decreased.
B
Economics
You might also like to view...
How does an increase in competition in an industry usually affect productivity?
What will be an ideal response?
Economics
Because of product differentiation in a monopolistically competitive market, the demand curve for an individual firm will be
A) horizontal. B) vertical. C) downward sloping. D) upward sloping.
Economics