Other things constant, which of the following would tend to increase the demand for Toyota autos?
A) A fall in the price of Toyotas
B) A fall in the price of Chryslers (a substitute for Toyotas)
C) A rise in income, if Toyotas are a normal good
D) A rise in income, if Toyotas are an inferior good
C
You might also like to view...
Producer surplus is the difference between the
A) price and the willingness to pay for the good. B) price and the marginal cost of producing the good summed over the quantity sold. C) willingness to pay for the good and the marginal cost of producing the good summed over the quantity sold. D) marginal benefit of consuming the good and the marginal cost of producing the good summed over the quantity sold.
Empirical evidence reveals a(n) __________ relationship between money and stock prices
A) positive and consistent B) negative and consistent C) completely independent D) inconsistent
Regarding price leadership, which of the following is NOT true?
a. one firm may establish itself as the dominant firm b. the dominant firm is frequently a larger size or has lower cost structure c. Price leadership is a model of price-output determination d. Once established, a barometric price leader will not change e. price leadership is a pricing strategy followed in many oligopolistic industries
If nominal GDP is $7 trillion, and the money supply is $2 trillion, then what is the velocity of money?
a. 14. b. 7. c. 3.5. d. 2.