The demand for a particular good depends on variables such as:
A. consumer income.
B. price of substitutes.
C. price of complements.
D. All of these.
Answer: D
You might also like to view...
When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline
A rightward shift in the intertemporal budget line would be caused by ________
A) an increase in future income and wealth B) an increase in future income and a decrease in wealth C) a decrease in future income and an increase in wealth D) a decrease in future income and wealth
Based on Figure 3.1, it can be inferred that:
A) Alvin does not consider good X as "good." B) Alvin will never purchase any of good Y. C) Alvin regards good X and good Y as perfect substitutes. D) Alvin regards good X and good Y as perfect complements. E) none of the above
Consumption = $1,000; investment = $200; net exports = -$50; taxes = $230; private saving = $225; and national saving = $150. Refer to Scenario 26-3. For this economy, government purchases amount to
a. $330. b. $280. c. $305. d. $310.