Increasing house prices
What will be an ideal response?
have no independent effect on consumption
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Icy Treats is a large Italian ice dessert chain with franchises located throughout the United States. Icy Treats' advertising will likely focus on which of the following?
A) promoting Icy Treats locations in a specific state B) promoting a struggling Icy Treats location in Memphis, Tennessee C) promoting a successful Icy Treats location in Memphis, Tennessee D) promoting the enjoyment of eating Icy Treats' icees
If a government is going to promote economic progress, which of the following is most important?
What will be an ideal response?
When the price of margarine is $2 per unit, 10 units of butter are demanded. When the price of margarine increases to $6 per unit, 30 units of butter are demanded. What is the cross-price elasticity between the two goods?
A) -1 B) 1 C) 2 D) 5
If total consumption spending is $1,000, the marginal propensity to consume is 0.6, and total output is $2,000, then the constant term is
A) $800. B) $1,000. C) $2,000. D) $1,200.