A nonprice determinant of demand refers to something that:
A. affects demand other than the price.
B. determines how large a role prices play in the demand decision.
C. determines how prices are affected by income.
D. affects the price other than demand.
Answer: A
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If real GDP is $1,200 billion, the population is 60 million, and aggregate hours are 80 billion, labor productivity is
A) $6.67 an hour. B) $15.00 an hour. C) $150 an hour. D) $5.00 an hour. E) $20,000.
The soft drink industry can best be described as:
A) an oligopoly. B) a monopoly. C) perfectly competitive. D) monopolistically competitive.
Conditions that likely contributed to a credit crunch during the global financial crisis include
A) capital shortfalls caused in part by falling real estate prices. B) regulated hikes in bank capital requirements. C) falling interest rates that raised interest rate risk, causing banks to choose to hold more capital. D) increases in reserve requirements.
If the required reserve ratio is 10 percent, a $100 deposit will ultimately allow the banking system to create how much money?
A. $190. B. $90. C. $1,000. D. $100.