Marginal utility theory predicts that a rise in the price of a banana results in
A) the demand curve for bananas shifting rightward.
B) the demand curve for bananas shifting leftward.
C) a movement upward along the demand curve for bananas.
D) a movement downward along the demand curve for bananas.
C
You might also like to view...
If inflation is higher in the home market, what is expected to happen to the real value of the home currency as time passes?
What will be an ideal response?
The t-test is used to test hypotheses concerning the individual regression coefficients
Indicate whether the statement is true or false
In the aggregate production function, the symbol "A " represents an index of how efficiently the economy transforms capital and labor into real GDP. "A" measures the influence
A) of any factor that determines real GDP. B) of the quantities of capital and labor that determine real GDP. C) of any factor that determines real GDP other than the quantities of capital and labor. D) of the quantities of capital and labor that determine real GDP, holding other factors constant.
If every person is willing to accept money in payment, rather than goods and services, money serves as a:
A. medium of exchange. B. unit of account. C. store of value. D. coincident exchange.