A decrease in quantity demanded of a good is caused by
A) a decrease in income.
B) a decrease in the price of a substitute.
C) an increase in the price of the good.
D) a change of tastes.
C
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Many extended periods of high actual unemployment above the natural rate have been the result of
A) deliberate government anti-inflationary policy. B) high job turnover. C) mismatches in the labor market. D) unemployment compensation.
The way one firm relates to another in the supply chain is referred to as being
A) upstream or downstream. B) latitudinal or longitudinal. C) left or right. D) competitor or conspirator.
If substantially more foreign money is invested in Ireland than Irish citizens have invested abroad, then one will likely expect Irish:
A. net foreign factor income to be positive. B. net foreign factor income to be zero. C. GNP to exceed Irish GDP. D. GDP to exceed Irish GNP.
An increase in demand will cause the equilibrium price and quantity to rise, ceteris paribus.
Answer the following statement true (T) or false (F)