Which of the following will cause the demand curve for product A to shift to the left?
A. Population growth that causes an expansion in the number of persons consuming A.
B. An increase in money income if A is a normal good.
C. A decrease in the price of complementary product C.
D. An increase in money income if A is an inferior good.
Answer: D
You might also like to view...
Marginal utility theory predicts that as the price of coffee rises, the ________ a substitute for coffee ________ and the ________ coffee ________
A) supply of; increases; demand for; decreases B) supply of; decreases; supply of; increases C) demand for; increases; quantity demanded of; decreases D) demand for; decreases; demand for; increases
According to the law of comparative advantage,
a. individuals and nations gain when they specialize in producing those goods they consume. b. individuals and nations gain when they specialize in producing goods they can produce at a high opportunity cost and can exchange for other desired goods they can produce cheaply. c. individuals and nations gain when they specialize in producing those items for which they are the low opportunity cost producers and exchange for other desired goods they can't produce as cheaply. d. all of the above are true.
An increase in the price of a good will
a. increase supply. b. decrease supply. c. increase quantity supplied. d. decrease quantity supplied.
If the discount rate is raised then banks borrow
a. more from the Fed so reserves increase. b. more from the Fed so reserves decrease. c. less from the Fed so reserves increase. d. less from the Fed so reserves decrease.