Demand curves can be affected by the prices of related goods
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
If buyers were required to pay the federal excise tax on gasoline directly to the government, the demand curve for gasoline would shift up
Indicate whether the statement is true or false
Holding other things constant, an increase in the inflation rate in US compared to the Chinese economy may cause the demand for dollar to _____________ and the supply for dollar to __________
a. Increase; decrease b. Increase, increase c. Decrease; Increase d. Decrease; Decrease
Last year, Alice bought 40 CDs when her income was $20,000 . This year, her income increased to $25,000 . and she purchased 48 CDs. We can conclude that:
a. Alice's price elasticity of demand for CDs is equal to 1. b. Alice's demand for CDs is price-inelastic. c. Alice's demand for CDs is price-elastic. d. the income elasticity of demand for CDs is negative. e. CDs are a normal good.