When a falloff in usage of a product by some consumers causes others to stop purchasing the item there is
A. a dominant effect.
B. a negative-sum game.
C. a tit-for-tat feedback.
D. negative market feedback.
Answer: D
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"Last October, due to an early frost, the price of a pumpkin increased by 10 percent compared to the price in the previous Halloween seasons. As a result, the quantity demanded county-wide decreased from 2 million to 1.5 million"
Based on this statement, the A) demand for pumpkins is elastic. B) demand for pumpkins is inelastic. C) demand for pumpkins is unit elastic. D) demand curve for pumpkins shifted rightward.
The figure above shows a perfectly competitive firm. When the firm maximizes its profit, its total cost is
A) $1,200. B) less than $1,200 but more than zero. C) more than $1,200. D) zero.
The reason food prices rose so little in 1916–19 was the extraordinary increase in output from the nation's farms
Indicate whether the statement is true or false
Suppose a Canadian investor buys a one-year U.S. government bond that pays 7 percent interest. If the U.S. dollar appreciates 4 percent against the Canadian dollar during the year, what must be the yield on a comparable Canadian government bond for interest rate parity to hold?
a. 3 percent b. 4 percent c. 7 percent d. 10 percent e. 11 percent