A debt crisis may lead to a banking crisis
Indicate whether the statement is true or false
TRUE
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A change in income will
a. affect the demand for candy through the income effect of a price change b. affect the quantity demanded of candy through the income effect of a price change c. shift the demand curve for candy d. have no effect on the demand for candy, because income is assumed constant along a demand curve e. affect quantity demanded only if candy is a normal good
Which of the following will not cause a change in demand for crackers?
a. a change in consumers' income b. a change in the price of crackers c. a change in the price of cheese d. a change in the number of cracker-eaters e. a change in consumers' tastes for crackers
Firm A's motive in filing an antitrust suit against Firm B may be
a. to seek court protection against genuinely unfair practices by Firm B. b. to seek financial compensation for damages caused by Firm B. c. to create an expensive nuisance for Firm B. d. All of the above are correct.
Figure 4-9
Moonshine" is illegal home brew made by adding sugar to accelerate corn fermentation. Ten pounds of sugar are necessary to make a gallon of moonshine. In the mid-1970s, the price of sugar tripled and the price of moonshine skyrocketed from $6 to $15 a gallon. Which graph in Figure 4-9 best illustrates this?
a.
1
b.
2
c.
3
d.
4