How would a decrease in consumer income affect the market for new automobiles?
a. Demand would decrease, leading to an increase in price and a reduction in quantity sold.
b. Demand would decrease, leading to a reduction in price and a reduction in quantity sold.
c. Demand would increase, leading to an increase in price and an increase in quantity sold.
d. Demand would increase, leading to a reduction in price and an increase in quantity sold.
b
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Which of the following is true?
i. A price support is inefficient. ii. A price floor set above the equilibrium price creates a surplus. iii. A price ceiling set above the equilibrium price creates a black market. A) only i B) only ii C) only iii D) i and ii E) ii and iii
The process of holding a stock and accruing a further return over the second year is called
a. interest b. making money c. interest plus (+) d. compounding e. stock holding
The production of durable goods is more stable than the production of nondurables over the business cycle.
Answer the following statement true (T) or false (F)
The equation of exchange is M× V = P× Y.
Answer the following statement true (T) or false (F)