Increase in consumer confidence will ________ the expenditure curve:
A) decrease.
B) increase.
C) down.
D) none of the above.
B
You might also like to view...
Carefully define the following terms, and explain their importance in economics. a. Opportunity cost b. Abstraction c. Theory d. Model e. Marginal analysis
What will be an ideal response?
The table above shows the marginal costs and marginal benefits of college education. The marginal private benefit of college education at the efficient amount of enrollment is
A) $20,000 per year. B) $16,000 per year. C) $12,000 per year. D) $14,000 per year.
Normative economic analysis involves
A. testable hypotheses by scientists. B. value judgments and opinions. C. purely descriptive statements. D. true statements of facts only.
If there is no response in quantity demanded to a change in price, demand is
A. perfectly inelastic. B. elastic. C. unit-elastic. D. perfectly elastic.