Refer to Table 3.2, which shows some costs and benefits of having your car repaired. Suppose you use your car to deliver pizzas, for which you earn $10 per hour. If your mechanic lowers the amount she charges by $50, what happens to your best choice of hours to spend on car repairs
A. It increases by 1 hour.
B. It decreases by 1 hour.
C. It doesn't change.
D. It decreases by 2 hours.
C. It doesn't change.
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Which of the following always results in an increase in equilibrium price and quantity?
A) an increase in supply and a decrease in demand B) an increase in demand with no change in supply C) an increase in supply with no change in demand D) all of the above
When an economy experiences significant economic growth:
a. a negative relationship exists between output per capita and adult literacy rates. b. an indirect relationship exists between output per capita and adult literacy rates. c. a direct relationship exists between output per capita and adult literacy rates d. no observed relationship exists between output per capita and adult literacy rates.