Related to the Economics in Practice on Page 79: If

question 91

Multiple Choice

Related to the Economics in Practice on page 79: If a hurricane results in the supply of hotel rooms decreasing and the equilibrium price for hotel rooms increases, the demand for hotel rooms ________ and total revenue from the sale of hotel rooms ________.

• A) has decreased; will decrease
• B) has decreased; may increase, decrease, or stay the same
• C) may have increased, decreased, or stayed the same; will decrease
• D) may have increased, decreased, or stayed the same; may increase, decrease, or stay the same

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Definitions:

Consistency

This term often refers to the characteristic of behaving in a similar manner over time, showing reliability in actions, values, or methods.

Observations

The act of carefully watching and noting phenomena as a part of scientific research or casual study.

Archival Research

A research method involving the examination of historical documents, records, and other archival materials to study trends, changes, and outcomes over time.

Naturalistic Observation

A research method in which subjects are observed in their natural environment without any manipulation by the researcher.