Which of the following has occurred as the millennial generation has come of age?
A) The demand for "fast casual" food has decreased in the U.S. market.
B) The demand for golf equipment has increased in the U.S. market.
C) The demand for traditional fast food has decreased in the U.S. market.
D) all of the above
Answer: C
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What is the price elasticity of supply? List and briefly define three cases of the price elasticity of supply
What will be an ideal response?
A decrease in the price level causes a ________ the IS curve and a ________ the aggregate demand curve
A) movement up along; movement up along B) shift to the right of; movement up along C) movement down along; movement down along D) shift to the left of; movement down along
People frequently confuse facts with judgments that are based on beliefs. This means that people have trouble making the distinction between:
A. political statements and non-political statements. B. rational statements and irrational statements. C. macroeconomics and microeconomics. D. positive statements and normative statements.
When a binding price floor is imposed on a market, a. price no longer serves as a rationing device
b. the quantity demanded at the price floor exceeds the quantity that would have been demanded without the price floor. c. all sellers benefit. d. All of the above are correct.