Suppose that frozen dinners were once a normal good for John, but now frozen dinners are an inferior good for him. John's demand curve for frozen dinners
A) has become steeper as a result.
B) has become flatter as a result.
C) has not changed as a result.
D) has disappeared as a result.
A
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A decrease in the demand for the output that an input produces will cause the input's: a. supply curve to shift to the right. b. supply curve to shift to the left
c. demand curve to shift to the right. d. demand curve to shift to the left.
Macroeconomics includes the study of:
A. How rent ceilings impact the construction rates of new apartments. B. How grocery cart rental fees impact parking lot accident rates. C. How the increase in the labor force participation rate by females impacts childhood obesity. D. How the economy works on a regional, national, or international scale.
The exchange rate between the U.S. dollar and the Japanese yen change
A. every five years. B. on a yearly basis. C. on a monthly basis. D. at times from one minute to the next.
The law of diminishing marginal utility refers to
A. the idea that marginal utility is negative. B. the idea that total utility is negative. C. a consumer's decrease in additional satisfaction as she consumes more and more units of a good. D. a consumer's decrease in total satisfaction as she consumes more units of a good.