A change in the price of a good or service causes ________________ for that specific good or service.

The “Law of Supply” functions in the labor markets. That is, a higher ____________ for labor leads to a higher quantity of labor supplied. 

In contrast to the goods and services market, ___________ are rare in labor makets, because rules that prevent limit the amount of income individuals can earn (regarding of the amount) are not politically popular.

__________________ refers to the total number of units that are purchased at that price.

According to ____________________, it is necessary to give up some of one good to gain more of the other good.

The evidence on the supply of financial capital is controversial, but at least in the short run, the elasticity of savings with respect to the interest rate appears to be:

Andy views beer and pizza as complements to one another. Therefore, if the price of pizza decreases, economists would expect: 

The lesson of ____________ is to forget about the money that’s irretrievebly gone and instead foscus on the marginal costs and benefits of future options. 

Most choices involve _______________, which compares the benefits and costs of choosing a little more or a little less of a good. 

A student attends a community college which maintains a daily parking fee stucture (which includes night classes) and has night classes. Assume the following: “If I did not have class tonight, I would save the $4.00 campus parking fee and spend four hours at work. I earn $10.00 per hour.” What is the opportunity cost of attending class this evening?