Which of the following will not cause a shift in the demand curve for good X?
a. A change in the price of a complementary good.
b. A change in the price of good X.
c. A change in consumer tastes and preferences for good X.
d. An increase in consumer income.
b
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Monetary policy is most effective at home when exchange rates are flexible
Indicate whether the statement is true or false
Suppose that a worker in Country A can make either 10 iPods or 5 tablets each year. Country A has 100 workers. Suppose a worker in Country B can make either 2 iPods or 10 tablets each year. Country B has 200 workers. A bundle of goods that Country A could potentially make would be:
A. (500 iPods, 500 tablets). B. (500 iPods, 400 tablets). C. (500 iPods, 300 tablets). D. (500 iPods, 200 tablets).
Which of the following is the ultimate goal of monetary policy?
a. Complete removal of income inequality b. Economic growth with price stability c. Free trade d. Balanced budget e. Economic welfare
For a given increase in price, a greater elasticity of demand will result in a greater a. increase in quantity demanded. b. increase in demand
c. decrease in quantity demanded. d. decrease in demand.