The law of demand states that
A. the price can never be too high for some consumers.
B. a higher price will lead to increased sales.
C. consumers with more income will spend more on goods and services.
D. quantity demanded of a good will vary inversely with the price of that good.
Answer: D
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TANF sends block grants of a fixed amount from the federal government to the states
Indicate whether the statement is true or false
The effects of increased inflationary expectations is depicted in a(n)
a. upward shift in the investment curve b. downward shift in the investment curve c. upward shift in the consumption curve d. downward shift in the consumption curve e. move to the right along an existing consumption curve
Something that would cause the long-run aggregate supply curve to shift to the right would be:
A. technological advance. B. increase in the growth rate of the labor force. C. discovery of a new oil reserve. D. All of these would shift the long-run aggregate supply curve to the right.
If a price hike of 5 percent increases the quantity demanded of another good by 2 percent, the goods must be ________ and the cross elasticity of demand equals ________
A) substitutes; 0.40 B) substitutes; 2.5 C) complements; 0.40 D) complements; 2.5