Assume that brand X is an inferior good and name brand Y is a normal good. An increase in consumer income, other things being equal, will cause a(n):
a. upward movement along the demand curve for name brand Y.
b. downward movement along the demand curve for brand X.
c. rightward shift in the demand curve for brand X.
d. leftward shift in the demand curve for brand X.
d
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Refer to Figure 11.5. A decrease in exports is best illustrated by diagram
A) A. B) B. C) C. D) D.
A supply shock that reduces total factor productivity directly affects which term in the production function Y = AF(K, N)?
A) A B) F C) K D) N
Which of the following could be a direct cause of investment spending increasing?
A. The wealth of consumers increasing causing them to radically increase their purchases. B. Interest rates increase. C. A firms costs unexpectedly drop making their profit margin higher. D. Expected future income decreases.
When the pill was approved for sale in the United States in 1960:
A. it immediately and significantly revolutionized the labor force participation of all women. B. it was met with a lot of resistance and was even illegal in many places. C. it had already been legalized since many states anticipated its approval for years. D. new laws were written to make it illegal, and it remains technically illegal to this day.