If there is a good that is consumed almost entirely by the elderly, an aging of the overall population would
A. cause a movement along the demand curve to a (higher price, lower quantity) point.
B. move its demand curve to the left.
C. cause a movement along the demand curve to a (lower price, higher quantity) point.
D. move its demand curve to the right.
Answer: D
You might also like to view...
The prototype of suburban tract development was in
A. San Luis Obispo, California. B. Camden, New Jersey. C. Butte, Montana. D. Levittown, New York.
Refer to Table 19-19. Given the information above, calculate the GDP deflator in 2016
A) 114 B) 105 C) 95 D) 87
The yield curve is the relationship between the:
a. Real interest rate and expected inflation rate. b. Domestic yield and foreign yield. c. Real yield (i.e., interest rate) and actual inflation. d. Nominal yield and time to maturity of a security. e. Nominal yield on corporate securities and the yield of government securities.
You have noticed that there is a persistent shortage of teachers in an inner-city school district in your state. Based on this observation, you suspect that:
A. the demand for teachers in the inner-city school district is too low. B. the wage for teachers in that district is higher than the wage in other districts. C. there is an excess supply of teachers in other districts. D. the wage for teachers in that district is lower than the equilibrium wage.