A change in any of the ceteris paribus conditions for demand leads to a
A) a good going from an inferior good to a normal good.
B) movement along the demand curve.
C) shift of the demand curve.
D) change in supply.
C
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What would happen to an economy if the government funded an increase in spending with an equivalent increase in taxes?
What will be an ideal response?
The term contagion refers to
A) a government's complete control over it's banking system. B) a drop in interest rates across industrialized countries. C) the vulnerability of healthy economies to crises generated by events elsewhere. D) a directed attack on one market by a foreign market. E) a side effect of international trade.
Government regulation is best applied in cases_____
a. where the marginal benefit of the regulation is greater than the cost of the bureaucracy b. where imposed rules can increase efficiency more than govt. production would c. where the marginal benefit of regulation improves the cost efficiency of the producers d. where imposed rules can increase efficiency more than a public/private partnership would
Other things being equal, suppose that the demand for wheat in constant quality units increases. The increase in demand will cause
A) a surplus of wheat. B) a higher equilibrium price and higher equilibrium quantity of wheat. C) fall in the market clearing price of corn, a substitute for wheat. D) a higher equilibrium quantity, but a lower equilibrium price of wheat.