Sugar and honey are viewed as substitutes for each other in many cooking applications. If the price of sugar rises, we would expect the:
A. demand for honey to increase.
B. demand for honey to decrease.
C. quantity demanded of honey to decrease.
D. price of honey to decrease.
Answer: A
You might also like to view...
Which of the following would cause the short-run aggregate supply curve to shift to the left?
A) an increase in inflation expectations B) a decrease in interest rates C) a technological advance D) an increase in the price level
Fiscal policy time lags tend to be
A) constant, always thirteen months long. B) variable, between one and three years. C) variable, between one and three weeks. D) variable, between one and three months.
A soil bank program pays ___________ in order to _________
a. farmers' mortgages; eliminate bankruptcy b. farmers' mortgages; reduce the parity price ratio c. farmers to not grow; reduce excess demand d. farmers to grow; rejuvenate the land e. farmers to not grow; reduce supply
If the Gini coefficient is greater for Zambia than for the Netherlands, we can conclude that the
A. Distribution of income in the Netherlands is closer to being equal than in Zambia. B. Distribution of income in the Netherlands is as equal as it is in Zambia. C. Distribution of income in the Netherlands is less equal than in Zambia. D. Relative distributions of income in the two countries are the same.