A decrease in the price of pizza will lead to a(n):
A. decrease in the quantity of pizza demanded.
B. decrease in the number of consumers.
C. increase in the quantity of pizza demanded.
D. increase in the demand for pizza.
Answer: C
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A change in consumer preferences will shift the budget line.
Answer the following statement true (T) or false (F)
Lower interest rates which reduce the debt-servicing burden of households, thus increasing their net worth, is best described by the
A) bank lending channel. B) money channel. C) financial market channel. D) balance sheet channel.
Season ticket holders for the St. Louis Rams received a surprise when they read the applications forms to renew their season tickets. In order to get their season ticket to the Rams' home games, they also had to buy tickets to the preseason games
Many season ticket holders grumbled about this practice as an underhanded way for the St. Louis Rams to get more money from its season ticket holders. This practice is an example of: A) peak-load pricing. B) intertemporal price discrimination. C) two-part tariff. D) bundling. E) Both A and B are correct.
Which of the following is the best way to describe equilibrium in a market? At equilibrium, the
A) price is the lowest possible. B) price is usually affordable to most people. C) supply and demand curves can never shift again. D) quantity supplied equals the quantity demanded.