To derive the law of demand, we assume that
A) prices are constant.
B) real prices are constant.
C) marginal utility is constant.
D) tastes are constant.
Answer: D
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Suppose that a new bond rating service is established that specializes in rating municipal bonds that had not previously been rated. The likely result would be
A) a shift to the left in the demand curve for municipal bonds. B) a shift to the left in the supply curve for municipal bonds. C) an increase in the equilibrium interest rate. D) a decrease in the equilibrium interest rate.
Which of the following is an example of market governance?
a. A firm vertically integrating backward to own the necessary inputs b. A firm entering into a contract with input suppliers. c. A school recruiting a part-time teacher to cover for a permanent employee who falls very ill. d. A school requesting its permanent employees to cover for a teacher who suddenly falls ill.
Every Giffen good is a necessity but not every interior good is a necessity.
Answer the following statement true (T) or false (F)
The FOMC finally moved to ________ on January 25, 2012, when it issued its "Statement on Long-Run Goals and Monetary Policy Strategy."
A) inflation targeting B) zero inflation policy C) "just do it" policy D) monetary targeting