Which of the Following Would Cause Both the Equilibrium Price

question 170

Multiple Choice

Which of the following would cause both the equilibrium price and equilibrium quantity of potatoes (assume that potatoes are an inferior good) to decrease?

• A)an increase in consumer income
• B)a freeze that sharply reduces potato output
• C)a decrease in consumer income
• D)a technological advancement that results in a bumper crop of potatoes

Comprehend the role and principles of major labor unions such as the AFL, CIO, and IWW.

Identify the effects and significance of revolutionary unionism and welfare capitalism.

Recognize the evolution of labor relations and patterns of unionization in the post-WWII era.

Evaluate the impact of legislative acts on labor movements.

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Definitions:

Mortgage Interest

The interest paid on a mortgage loan, which may be deductible on U.S. federal income tax, reducing taxable income.

Prescription Medicines

Medications that can only be obtained with a doctor's written order and are eligible for certain tax exemptions when used for medical care.

Health Insurance Premiums

The amount paid, often on a monthly basis, for health insurance coverage.

Hospital Fees

Charges levied by hospitals for medical treatments, procedures, room occupancy, and other healthcare services provided to patients.