Consider a nation in which you could choose to live in one of two places: 1) By the sea 2) Inside the mainland (away from the sea) Let's say that in this economy, people really start preferring being near the sea, more than before. In the market for seaside properties, we'd expect to see _____________; in the market for mainland properties, we'd expect to see _________________. demand fall; quantity demanded rise demand fall; demand rise demand rise; demand fall demand rise; quantity demanded fall
Consider a nation in which you could choose to live in one of two places: 1) By the sea 2) Inside the mainland (away from the sea) Let's say that in this economy, people really start preferring being near the sea, more than before. In the market for seaside properties, we'd expect to see _____________; in the market for mainland properties, we'd expect to see _________________. demand fall; quantity demanded rise demand fall; demand rise demand rise; demand fall demand rise; quantity demanded fall
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter33: International Trade
Section: Chapter Questions
Problem 3SCQ: In France it takes one worker to produce one sweater, and one worker to produce one bottle of wine....
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Consider a nation in which you could choose to live in one of two places:
1) By the sea
2) Inside the mainland (away from the sea)
Let's say that in this economy, people really start preferring being near the sea, more than before. In the market for seaside properties, we'd expect to see _____________; in the market for mainland properties, we'd expect to see _________________.
demand fall; demand rise
demand rise; demand fall
demand rise; quantity demanded fall
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