Alex receives a raise at work and continues to work the same number of hours each week. What is the most likely way that his demand for $3 T-shirts, which he considers an inferior good, change?

According to your authors, the United States would probably not have experienced tremendous economic growth between 1800 and 1870 were it not for

A) slavery. B) sharecropping. C) antitrust legislation. D) balanced federal budgets. E) technological innovation.

How can a firm have a negative valued added, as supposedly some state-owned businesses did in the former Soviet Union? What has to be true for value added to be negative?

What will be an ideal response?