The price of natural gas fell and the quantity sold also fell. Everything else being equal, it is consistent that
A. the price of oil fell.
B. natural gas workers received large wage increases.
C. more efficient gas drilling equipment was installed.
D. consumer incomes rose.
E. the supply of natural gas fell.
Answer: A
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If the government of a developing country is having difficulty selling bonds to build an irrigation system, it could go to the
A) United Nations International Bank. B) World Bank. C) International Monetary Organization. D) Federal Reserve Bank.
If the price of a haircut increases,
a. haircuts become more expensive relative to other goods and services b. haircuts become less expensive relative to having a friend cut your hair c. people will have their hair cut more often d. haircuts become less expensive relative to other goods and services e. the budget constraint will shift outward