All of the following are factors that will change demand and shift the demand curve, EXCEPT Question 20 options:
A. the price of the good itself.
B. preferences.
C. income.
D. the prices of related goods.
A. the price of the good itself.
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Fill in the blank: National income accountants define a(n) ________ good as something purchased with the goal of reselling it or further processing or remanufacturing it into another sellable good
A) scarce B) intermediate C) final D) finished E) completed
Exhibit 7-3 A marginal product curve
As shown in Exhibit 7-3, the law of diminishing returns applies where there are:
A. more than 5 workers per day. B. fewer than 2 workers per day. C. fewer than 5 workers per day. D. between 2 and 5 workers per day.
Two variables are said to be negatively correlated if their values
A. tend to move in opposite directions. B. tend to move in the same direction. C. are always negative. D. only decrease but never increase.
The primary purpose of Social Security is to:
A. subsidize families in need. B. offset the progressiveness of the personal income tax. C. provide income for workers who are temporarily unemployed. D. provide income for retired and disabled workers.