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Question
When the price of DVDs falls relative to movie and restaurant prices, and consumers buy more of the DVDs, economists call this
A) indifference.
B) satisfaction.
C) marginalization.
D) substitution.
Answer
This answer is hidden. It contains 1 characters.
Related questions
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Q:
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Q:
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Q:
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Q:
Which of the following statements is FALSE?
A) The rationing function of prices is not allowed to freely operate when the government imposes price controls.
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Q:
Assume that coffee and tea are substitutes. Given a downward sloping demand curve for tea, an increase in the price of tea will causeA) an increase in the demand for coffee. B) a decrease in the demand for coffee.C) a leftward shift of the demand curve for tea. D) a leftward shift in the demand for coffee.
Q:
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Q:
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Q:
Discuss the relationship between world trade and world Gross Domestic Product (GDP) since the early 1950s.
Q:
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Q:
The United Statesʹ balance of payments is likely to improve whenA) there is an increase in political instability in other countries.B) the inflation rate in the United States rises relative to other countries.C) the American government increases its spending on foreign aid. D) American people want to invest more in foreign countries.