Which of the following events would cause an upward movement along the demand curve for olives?
a. The number of people who purchase olives decreases
b. Consumer income decreases, and olives are a normal good.
c. The price of pickles decreases, and pickles are a substitute for olives.
d. The price of olives rises.
d
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John Maynard Keynes created the aggregate expenditures model based primarily on what historical event?
A. economic expansion of the 1920s B. the Great Depression C. spectacular economic growth during World War II D. bank panic of 1907
Economics promotes which of the following as the way to make the best decision?
A) Continue an enjoyable activity up to the point where its marginal benefit equals its marginal cost. B) Continue an enjoyable activity until it is no longer enjoyable. C) Continue an enjoyable activity until you cannot afford to pursue it. D) Continue an enjoyable activity as long as you do not have to pay for it.
The term loanable funds refers to all income that is not used for consumption or government expenditures
a. True b. False Indicate whether the statement is true or false
When the economy was expanding in early? 2007, fewer than? _______ percent of the unemployed had been jobless for more than 6 months.
What will be an ideal response?