When the price of a good increases, it
A. leads suppliers to place few goods on the market.
B. the demand for the good shifts.
C. leads consumers to want to buy more or less than before at a given price.
D. a movement down along the demand curve will occur.
Answer: D
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Searching the internet for information to help select a product that is more reliable is most likely to be done by a
A) risk-averse person. B) risk-neutral person. C) risk-preferring person. D) This cannot be determined with the information provided.
If a grocery store offers a five percent discount to senior citizens, this is an example of ________ and is ________.
A) price discrimination; only illegal if the practice substantially lessens competition or tends to create a monopoly B) conditional sales; always illegal per se C) conditional sales; only illegal if the practice substantially lessens competition or tends to create a monopoly D) price discrimination; always illegal per se
Consider the graph shown. What would most likely be the cause of a shift from S1 to S2?
A. A tax on sellers
B. A tax on buyers
C. A subsidy for sellers
D. A subsidy for buyers
Tom obtains a car loan from Old Town Bank.
A. The car loan is Tom's asset and the bank's liability. B. The car loan is Tom's asset, but the liability belongs to the bank's depositors. C. The car loan is Tom's liability and a liability of the bank until Tom pays it off. D. The car loan is Tom's liability and an asset for Old Town Bank.