A change in income leads to a ________ that causes a ________.
A. change in demand; movement along the demand curve
B. change in quantity demanded; shift of the demand curve
C. change in demand; shift of the demand curve
D. change in quantity demanded; movement along the demand curve
Answer: C
You might also like to view...
A function of government is to regulate "natural monopolies." Explain what is a natural monopoly and why it requires government regulation
What will be an ideal response?
If you go to Europe to work and send funds home to your family living in the United States, this is known as a
A) service import. B) merchandise import. C) service export. D) unilateral transfer.
A firm should continue producing until
A. the cost of producing the output equals the revenues obtainable from selling the output. B. average costs are at a minimum. C. the average cost when another unit is produced equals the average revenue obtainable from selling the extra unit. D. the cost of increasing output by one more unit equals the revenues obtainable from selling the extra unit.
The Federal Reserve System regulates the money supply primarily by:
A. controlling the production of coins at the U.S. mint. B. altering the reserve requirements of commercial banks and thereby the ability of banks to make loans. C. altering the reserves of commercial banks, largely through sales and purchases of government bonds. D. restricting the issuance of Federal Reserve Notes because paper money is the largest portion of the money supply.