An increase in the price of Swiss cheese will most likely cause an increase in the demand for ______.
a. crackers
b. cheddar cheese
c. eggs
d. chocolate
b. cheddar cheese
You might also like to view...
If the Herfindahl-Hirschman Index in the market for single-use cameras equals 10,000 , then the single-use camera industry is best characterized as
A) a monopoly. B) monopolistic competition. C) an oligopoly. D) perfect competition. E) either a monopoly or monopolistic competition.
In the circular flow model, which of the following items is a real flow?
A. The flow of government expenditures to firms for the goods bought B. The flow of income from firms to households for the services of the factors of production hired C. The flow of U.S. borrowing from the rest of the world D. The flow of labor services from households to firms
In the Keynesian framework, as long as output is ________ the equilibrium level, unplanned inventory investment will remain ________, firms will continue to raise production, and output will continue to rise
A) below; negative B) above; negative C) below; positive D) above; positive
The U.S. and other industrializing nations depended heavily on international trade
Indicate whether the statement is true or false