Lauren makes $150 a day as a bank clerk. She takes two days off work without pay, to fly to another city to attend the concert of her favorite band. The cost of transportation and lodging for the trip is $250. The cost of the concert ticket is $50. The

What happens to the equilibrium price and quantity of automobile tires if rubber prices increase and the price of automobiles falls?

A) The equilibrium price rises, but the change in equilibrium quantity is unknown. B) The equilibrium price and quantity decrease. C) The equilibrium price falls, but the change in equilibrium quantity is unknown. D) The equilibrium price and quantity increase. E) The equilibrium quantity decreases, but the change in equilibrium price is unknown.

If real GDP per person were equal to $1,000 in 1900 and grew at a one percent annual rate, what would be the value of real GDP per person 100 years later?

A. $11,000 B. $13,780 C. $1,100 D. $2,705