Wendell just read an article that says scientists have proven that processed cheese food increases brain power. We would expect Wendell's demand for processed cheese food to:
A. increase and shift to the left.
B. decrease and shift to the left.
C. decrease and shift to the right.
D. increase and shift to the right.
Answer: D
You might also like to view...
All of the following occur whenever a government taxes a product except
A) the quantity consumed of that product falls. B) the price of that product rises. C) there will be no excess burden if the government's tax revenue is sufficiently large to offset the deadweight loss. D) the marginal benefit of the last unit sold exceeds the marginal cost of producing it.
A countercyclical variable ________
A) moves up during expansions and down during contractions B) is another term for an acyclical variable C) moves in the same direction as aggregate economic activity D) all of the above E) none of the above
The fact that a single-price monopolist must lower its price to sell more output explains why price exceeds marginal revenue
a. True b. False
In 2006, before the Great Recession, the economy was booming and consumer demand was high, making the:
A. demand for loanable funds decrease and shift to the left. B. supply of loanable funds increase and shift to the right. C. demand for loanable funds increase and shift to the right. D. supply of loanable funds decrease and shift to the left.