For a normal good, a decrease in demand is caused by
A) a rise in income.
B) a fall in income.
C) a rise in price.
D) a fall in price.
B
You might also like to view...
Suppose a decrease in demand causes the price to decrease from $4 to $3 and the quantity to decrease from 1,000 to 700. Using the midpoint method, the elasticity of supply equals
A) 0.81. B) 1.24. C) 2.83. D) 0.18. E) None of the above answers is correct.
An observer of the economy notices that over the past 12 months the unemployment rate has fallen from 7.0 percent to 6.5 percent. During the same time, the rate of growth in real GDP has been positive. From this information we might conclude that
A) inflation is not occurring. B) an expansion is occurring in the economy. C) a recession is in progress. D) a trough in the business cycle will soon be reached.
Which of the following is a characteristic of "public goods"?
What will be an ideal response?
A health maintenance organization where the physicians are salaried employees of the HMO is called:
a. an IPA. b. a network-model HMO. c. a direct-contract HMO. d. a staff-model HMO. e. a group-model HMO