A shift in the demand curve will occur when
A) supply shifts.
B) the price of an input used to produce the good changes.
C) consumers' income changes.
D) the price of the product changes.
Answer: C
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If a $1,000 increase in income leads to an $800 increase in consumption expenditures, then the marginal propensity to consume is
a. 0.2 and the multiplier is 1.25. b. 0.8 and the multiplier is 5. c. 0.2 and the multiplier is 1.25. d. 0.8 and the multiplier is 8.
Suppose the residents of Metropolis travel to work either by bus or train. If the price of train tickets increases, then:
A. the demand for bus tickets will increase. B. the demand for train tickets will decrease. C. the demand for bus tickets will decrease. D. the demand for train tickets will increase.
Which of the following is a disadvantage of? partnerships?
A. Potential for conflict B. Simplicity C. Longevity D. More resources E. Single layer of taxation
Refer to the information provided in Figure 6.6 below to answer the question(s) that follow.
Figure 6.6Refer to Figure 6.6. Bill's budget constraint was originally EF. If his new budget constraint is CD, then his income
A. did not change but the price of black beans decreased. B. did not change but the price of black beans increased. C. decreased. D. increased.