All of the following, except one, would increase the demand for a particular model of a Ford automobile. Assume that this model is a normal good. Which is the exception?
a. an increase in buyers' incomes
b. increased prices of other Ford models
c. an expected future increase in the price
d. an increase in the U.S. population
e. a decrease in the price of steel
E
You might also like to view...
Bobby consumes only chocolate ice cream and vanilla ice cream. He is spending all of his income
His marginal utility of chocolate is 200 and his marginal utility of vanilla is 200, and the price of chocolate is $1.00 per scoop and the price of vanilla is $2.00 per scoop. To maximize his utility, Bobby should A) buy more chocolate ice cream and less vanilla ice cream. B) buy more vanilla ice cream and less chocolate ice cream. C) not change his purchases between chocolate ice cream and vanilla ice cream. D) buy no vanilla ice cream.
If the marginal product of the second worker hired by a firm is 14 units and the price of a unit of output is $7 regardless of the quantity of output sold, then the marginal revenue product of the second worker is
a. $98 b. $14 c. $7 d. $2 e. $21
The position of the long-run aggregate supply curve
a. is determined by resource usage and technology. b. is at the point where the unemployment rate is zero. c. shifts to the right when the money supply increases. d. is at the point where the economy would cease to grow.
Two-period panel data is used for program evaluation and policy analysis.
Answer the following statement true (T) or false (F)