An increase in quantity demanded of a good is caused by
A. a change of tastes.
B. a decrease in the price of a substitute.
C. a decrease in the price of the good.
D. a decrease in income.
Answer: C
You might also like to view...
Given the proportion of a consumer’s income spent on various goods, the demand for is likely to be the most price inelastic.
Supporters of advertising claim that it:
a. makes demand for a firm's product more elastic. b. is a barrier to entry. c. promotes better quality products. d. all of these.
A lottery promises a $250,000 prize. But the prize money is paid out in $50,000 annual installments with the first installment received today.. The winner is offered the option of an immediate lump-sum payment. If the interest rate remains at 10 percent for the entire period, what is the smallest amount the winner should accept?
a. $189,540 b. $192,970 c. $208,494 d. $225,000
Cyclical unemployment
a. is caused by changes in the business cycle. b. results from imperfect search activities in matching qualified employees with employers. c. results from institutional factors that make it difficult for some workers to find jobs. d. will probably go up as a result of improvements in online job searching.