Assume the demand curve for product X shifts to the right. This might be caused by:
A. a change in consumer tastes that is unfavorable to X.
B. a decline in the price of Z if X and Z are substitute goods.
C. a decline in income if X is an inferior good.
D. an increase in the price of Y if X and Y are complementary goods.
Answer: C
You might also like to view...
Cooperation is possible in a ________ game if both firms ________ know the final period of the game.
A) one-shot; do not B) finitely repeated; do C) one-shot; do D) finitely repeated; do not
False advertising ________ likely to be successful with tickets on a new airline because the tickets are an ________ good.
A) is not; inspection B) is; experience C) is; inspection D) is not; experience
The second crisis of economic theory refers to
A. The dominance of Keynesian views in fiscal policy to the exclusion of newer, more enlightened viewpoints. B. The typical fiscal policy trade-off between unemployment and inflation. C. An emphasis on the level of output without concern for the content of output in terms of fiscal policy. D. Our inability to maintain full employment output over any significant period of time.
Refer to Figure 1.7. Which of the following points are unattainable, ceteris paribus?
A. G. B. F. C. E. D. N.