Which of the following will not shift the demand curve for grapefruit?
a. An announcement that eating a grapefruit before every meal will induce weight loss.
b. A technical development that allows machines to replace the workers who harvest grapefruit.
c. An announcement that eating lots of grapefruit causes skin problems.
d. A newspaper story reporting that the preference for oranges has skyrocketed.
e. An announcement that grapefruit will definitely cost more next week.
b
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The relationship between x and y in the above figure is
A) positive with an increasing slope. B) positive with a decreasing slope. C) negative with an increasing slope. D) negative with a decreasing slope.
Incentive-based regulations provide polluters no incentive to reduce pollution and are thus not used often.
A. True B. False C. Uncertain
Advocates of discretionary economic policy are most likely to be
A. Keynesians. B. supply-side economists. C. rational expectationists. D. Classical economists.
Based on this graph, deficit spending usually ______.
a. ends before a recession ends
b. continues after the end of a recession
c. does not occur during a recession
d. ends before a recession starts