Which of the following changes is not a shifter of the demand for a particular food product?
A. Changes in price of that product.
B. Changes in consumer income.
C. Changes in relative prices of substitute items.
D. Changes in consumer perceptions of that product.
Ans: A. Changes in price of that product.
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In the Solow growth model, the growth rate of real GDP per worker depends on the ________, and in the AK growth model, the growth rate of real GDP per worker depends on the ________
A) rate of depreciation; rate of dilution B) investment growth; rate of population growth C) growth rate of the capital stock; growth rate of the labor force D) rate of labor-augmenting technological change; national saving rate
Bureaus are
a. special-interest groups that try to influence legislators b. government agencies that implement legislation c. competing-interest groups that battle federal agencies d. collections of legislators who actively engage in logrolling e. a means of enforcing the median voter model in the decision-making process
Movements along the Phillips curve result in the:
a. savings rate varying inversely with the unemployment rate. b. inflation rate varying directly with the unemployment rate. c. inflation rate varying inversely with the unemployment rate. d. interest rate varying inversely with the unemployment rate.
If the reserve ratio is 10%, and banks do not hold excess reserves, when the Fed purchases $10 million of government bonds, bank reserves
A) increase by $10 million and the money supply could eventually increase by $10 million. B) decrease by $10 million and the money supply could eventually decrease by $100 million. C) increase by $10 million and the money supply could eventually increase by $100 million. D) decrease by $10 million and the money supply could eventually decrease by $10 million