How will an increase in price tend to affect demand?
a. Demand will increase.
b. Demand will decrease.
c. Demand will not change.
d. Uncertain.
c
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Which aggregate expenditure categories are influenced by the level of real GDP?
A) investment and government expenditures on goods and services B) consumption and government expenditures on goods and services C) consumption and investment D) imports and exports E) consumption and imports
If the money multiplier is approximated to be 4, then the reserve ratio must be:
A. 25 percent. B. 2.5 percent. C. 5 percent. D. 4 percent.
Explicit price fixing:
A. is illegal in the U.S. and in the European Union. B. is illegal only in the United States. C. is illegal only if the firms engage in punishment strategies. D. has not occurred in recent years.
The CPI in November 2016 was equal to 241.4. This means that $1,000 in
A. 1982-1984 had as much buying power as $241.40 in November 2016. B. 1982-1984 had as much buying power as $2,414 in November 2016. C. November 2016 had as much buying power as $2,414 in 1982. D. November 2016 had as much buying power as $241.40 in 1982.