The Setrite Corporation produce chairs. An economist working for the firm predicts that if people’s incomes rise next year, then the demand for our chairs will for our chairs will increase ceteris paribus The accuracy of the economist’s prediction depends on whether the chairs Setrite Produce ?

Related Mcqs:

Supply is likely to be more price elastic ?

A. In the short run rather than the long run B. If factors of production are relatively immobile between industries C. If there are very few producers D. If it is easy to expand output...

The income effect of a price increase of a normal good is to ________ of that good and the substitution effect is to _________ of that good?

A. increase quantity demanded, reduce quantity demanded B. increase quantity demanded, increases quantity demanded C. reduce quantity demanded, reduce quantity demanded D. reduce quantity demanded, increase quantity demanded...

If the cross-price elasticity of demand between two goods is negative, then the two goods are ?

A. normal goods B. unrelated goods C. Substitutes. D. Complements...

Aggregate demand will increase if ?

A. consumption falls B. investment falls C. Exports fall D. imports fall...

Which of the following would increase aggregate demand ?

A. Increased saving B. Increasing import spending C. Increased taxation revenue D. increased investment...