Refer to the diagram. The budget line shift that moves the consumer's equilibrium position from point A to point B suggests:
A. an increase in the quantity of Y demanded.
B. a decrease in the quantity of Y demanded.
C. a leftward shift in the demand curve for Y.
D. a rightward shift in the demand curve for Y.
A. an increase in the quantity of Y demanded.
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Computers and laser scanners are ________ for low-skilled labor and ________ for high-skilled labor. The introduction of these technologies ________ the wage rate of high-skilled workers and ________ the wage rate of low-skilled workers
A) complements; substitutes; raises; lowers B) substitutes; complements; lowers; raises C) substitutes; complements; raises; lowers D) complements; substitutes; lowers; raises
If the supply of a product increases, then
a. more will be purchased at the same price b. the price of the product must have declined c. demand for the good must have increased d. producers are willing to accept a lower price for each unit sold e. producers offer less for sale at each possible price