Refer to the graph below, which shows the market for beef where demand shifted from D1 and D2. The change in equilibrium from E1 to E2 is most likely to result from:
A. A decrease in consumer incomes
B. An increase in the cost of cattle feed
C. An increase in the price of pork
D. A decrease in the tax on beef products
A. A decrease in consumer incomes
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The formula for the multiplier can be written as change in
A. Y/change in I. B. I/change in Y. C. Y/change in C. D. Y/change in GDP.
Including younger Americans from the age of _____, almost half of Americans report they currently use alcohol
a. 12 b. 14 c. 15 d. 18 e. 21
If the public has correct rational expectations and the Fed increases both reserve requirements and the discount rate, it would be expected to result in: a. a higher level of real output and a lower price level. b. a lower price level but no change in real output
c. a higher price level and a reduced level of real output. d. a higher price level but no change in real output.
Desirable characteristics for money do not include
a. divisibility b. portability c. durability d. not being of uniform quality e. a stable supply