Identify the non-price determinants that create changes in demand and can cause a shift in the demand curve
What will be an ideal response?
They are factors that can lead to the shifting of demand up or down. Non-price determinants include income, consumer expectations, population, demographics, and consumer tastes and advertising.
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Bank reserves are:
A. currency and customer checking deposits. B. cash and similar assets held to meet depositor withdrawals or payments. C. any asset used to purchase goods and services. D. currency, customer checking and savings deposits.
One of the main causes of economic inequality in Latin America is the
A) failure of governments to support urban consumers. B) lack of progress in raising agricultural productivity. C) lack of governmental interest in solving the problem of inequality. D) focus of governments on agricultural exports to the detriment of food production. E) oil crisis of the 1970s.
The U.S. Postal Service has found its monopoly eroded over time because
a. the demand for mail delivery has become more inelastic b. Congress has taken away their monopoly over first-class mail c. the U.S. Postal Service cannot handle the volume of transactions d. the price of stamps has increased relative to other substitutes, such as the telephone, email, and online transactions e. of the decline in the use of fax machines
The people in an economy have $10 million in money. There is only one bank that all the people deposit their money in and it holds 5% of the deposits as reserves. What is the money multiplier in this economy?
a. 5 b. 1 c. 20 d. 10