Which of the following would not lead to a change in the supply of chocolate ice cream?
a. a change in productive capacity
b. a change in the price of strawberry ice cream
c. a change in the price of milk
d. a change in the price of chocolate ice cream
e. a change in the expected future price of chocolate ice cream
D
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Which of the following best defines the IS curve?
A) the combinations of i and Y that maintain equilibrium in the goods market B) illustrates the effects of changes in i on investment C) illustrates the effects of changes in i on desired money holdings by individuals D) the combinations of i and Y that maintain equilibrium in financial markets
The effect of a sustained increase in government spending or investment on aggregate output is larger in an open economy than in a closed economy.
Answer the following statement true (T) or false (F)
The output of Mexican citizens who work in Texas would be included in the
A) net national product of the United States. B) gross national product of the United States. C) gross national product of Mexico. D) gross domestic product of Mexico.
You lose your job and as a result your demand for steak falls. This implies that you consider steaks to be a
a. Complementary good b. Normal good c. Inferior good d. Substitute good