An increase in each of the following factors would normally provide a subsequent increase in quantity demanded, except:
a. price of substitute goods
b. level of competitor advertising
c. consumer income level
d. consumer desires for goods and services
e. a and b
b
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A graph that shows how the amount of advertising expenditure differs among various industries can be shown
A) by a trend-section graph. B) by a scatter diagram. C) by a time-series graph. D) as a trend. E) by a cross-section graph.
How can an insurance company offer people a deal worth taking? Why do both the buyers and the sellers of insurance gain?
What will be an ideal response?
Based on the graph showing a reduction in the growth of the money supply, as the economy moves from point D to point E on the short-run Phillips curve, real wages rise, causing companies to ______.
a. hire more new workers
b. receive higher relative prices
c. hire fewer new workers
d. increase production
Refer to the graph shown.
If suppliers can restrict output from M to L, the price will:
A. rise from PM to PL. B. fall from PL to PM. C. fall from PM to PL. D. rise from PL to PM.