When the price of a product increases, there is Question 27 options:
A. a downward movement along the demand curve.
B. a rightward shift of the demand curve.
C. an upward movement along the demand curve.
D. a leftward shift of the demand curve.
C. an upward movement along the demand curve.
You might also like to view...
The account that shows international transactions involving financial transactions (stocks, bonds, bank loans, etc.) is called the
A) trade balance. B) current account. C) balance of payments. D) capital account.
Suppose the typical consumer only purchases food and clothing, and her utility can be expressed as U = F ? C. Currently, food costs $5 per unit and clothing costs $2 per unit. Her income is $70
If the price of food increases to $6, compare the resulting Laspeyres price index with a true cost of living index.
Assuming steak and potatoes are complements, other things being equal, an increase in the price of steak, will:
a. increase the demand for potatoes. b. decrease the demand for potatoes. c. increase the demand for steak. d. decrease the demand for steak.
Assume that Laura will get $500 from her parents when she graduates from college one year from today. If the market interest rate is 8 percent, then what is the present value of that $500?
a. $359.12 b. $428.67 c. $462.96 d. $483.11