If the wages of bus drivers increases at the same time that the income of consumers decrease, what happens in the market for bus rides (assuming that bus rides are an inferior good)?

Equilibrium price rises, equilibrium quantity ambiguous

If the wages of bus drivers increases at the same time that the i...

1. Introduction to Macroeconomics1h 57m

2. Introductory Economic Models59m

3. Supply and Demand3h 43m

4. Elasticity2h 26m

5. Consumer and Producer Surplus; Price Ceilings and Price Floors3h 40m

6. Introduction to Taxes1h 25m

7. Externalities1h 3m

8. The Types of Goods1h 13m

9. International Trade1h 16m

10. Introducing Economic Concepts49m

11. Gross Domestic Product (GDP) and Consumer Price Index (CPI)1h 37m

12. Unemployment and Inflation1h 22m

13. Productivity and Economic Growth1h 17m

14. The Financial System1h 37m

15. Income and Consumption52m

16. Deriving the Aggregate Expenditures Model1h 22m

17. Aggregate Demand and Aggregate Supply Analysis1h 18m

18. The Monetary System1h 1m

19. Monetary Policy1h 32m

20. Fiscal Policy1h 0m

21. Revisiting Inflation, Unemployment, and Policy46m

22. Balance of Payments30m

23. Exchange Rates1h 16m

24. Macroeconomic Schools of Thought40m

25. Dynamic AD/AS Model35m

26. Special Topics11m