If mayonnaise and Miracle Whip are substitutes, then which of the following would increase the demand for Miracle Whip?
a. a decrease in the price of Miracle Whip
b. an increase in the price of mayonnaise
c. a decrease in the price of mayonnaise
d. Both a and b are correct
Answer: b. an increase in the price of mayonnaise
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a. adjust interest rates b. provide welfare assistance c. adjust availability of money and loans d. increase aggregate demand
In measuring income distribution, income and population are grouped by quintiles, each of which represents ______ percent of the income and population
a. 25 b. 20 c. 10 d. 100 e. 50
If the demand for a good increases at the same time as the supply of the same good decreases, what will happen to the equilibrium price and quantity of the good?
When the IMF provides loans to developing countries, it often requires these countries to adopt:
A. a contractionary fiscal policy and an expansionary monetary policy. B. contractionary monetary and fiscal policies. C. expansionary monetary and fiscal policies. D. a contractionary monetary policy and an expansionary fiscal policy.