If the price of hamburger buns increases, the demand for ground beef is predicted to:
a. Decrease
b. Shift to the right
c. Increase
d. Remain constant
a. Decrease
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As a consumer consumes more and more of a product in a particular time period, eventually marginal utility
A) fluctuates. B) rises. C) is constant. D) declines.
Refer to Scenario 15.4. The net present value of the purchase is
A) $200 × 10 - $800. B) $200/1.06 - $800. C) $200/1.0610 - $800. D) $200 × (1 + 1/1.06 + 1/1.062 + ... + 1/1.069 ) - $800. E) $200 / (1 + 1/1.06 + 1/1.062 + ... + 1/1.069 ) - $800.
Alex just got a new car. Because Alex obtained full-coverage car insurance, Alex will have an incentive to ________ because of ________.
A. drive more cautiously than if he didn't have insurance; adverse selection B. drive more cautiously than if he didn't have insurance; moral hazard C. drive less cautiously than if he didn't have insurance; adverse selection D. drive less cautiously than if he didn't have insurance; moral hazard
Exhibit 20-5 Money, investment and product markets
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In Exhibit 20-5, if the interest rate falls from i1 to i2, investment spending will:
A. increase, and aggregate demand will shift from AD1 to AD2. B. decrease, and aggregate demand will shift from AD2 to AD1. C. remain the same, and aggregate demand will shift from AD2 to AD3. D. increase, and aggregate demand will shift from AD2 to AD1.