Holding everything else constant, a decrease in the price of bicycles will result in
A) an increase in the demand for bicycles.
B) a decrease in the supply of bicycles.
C) a decrease in the quantity of bicycles demanded.
D) an increase in the quantity of bicycles demanded.
D
You might also like to view...
In 2000, you could buy a Cadillac DTS for $45,000. In 2011, the Cadillac DTS sold for $55,000
While both models include anti-lock brakes and air bags (along with other similar features), the 2011 model also includes satellite radio and new technology that provides improved gas mileage and safer driving. If the Cadillac DTS was included in the CPI basket, it would create A) a downward bias in the inflation rate. B) an upward bias in the CPI as a result of quality change bias. C) an upward bias in the CPI as a result of commodity substitution bias. D) a downward bias in the CPI as a result of new goods bias.
Which of the following does GDP omit?
A) Jack purchases $2,300 worth of stock in company X. B) Bob mows his lawn and washes and irons his shirts. C) Helen receives $4,000 a year in Social Security payments. D) a and b E) a, b, and c
Refer to the budget line in the figure. If the price of a loaf of bread is 50 cents, what is the consumer's annual income?
a. $20 b. $60 c. $80 d. $40
The seller of a put option is transferring the risk:
A. this statement is incorrect since only sellers of call options are transferring risk. B. of a price increase of the stock to the buyer of the option. C. this statement is incorrect since options do not transfer risk. D. of a price decrease of the stock to the buyer of the option.