An increase in income will ?

Related Mcqs:

A reduction in the costs of production will ?

A. Lead to a movement along the supply curve B. Shift the demand curve C. Shift the supply curve D. Lead to an extension of supply...

Where a tax can be shifted, the incidence depends on ?

A. Whether there is perfect or imperfect information B. elasticities of demand and supply C. how many producers there are: D. who is legally obliged to pay the tax...

If the consumption of good by one person does not reduce the quantity available by others and nobody can be easily excluded from consumption, we are referring to a ?

A. Private good B. merit good C. public good D. abundant good...

Which of the following statements is true about the impact of an increase in the price of lettuce ?

A. Both the demand for lettuce will decrease and the equilibrium price and quantity of salad dressing will fall B. The supply of lettuce will decrease C. The demand for lettuce will decrease D. The equilibrium price and quantity of salad dressing will fall E. The equilibrium price and quantity of salad dressing will rise...

Economics say that there has to be some from of rationing whenever ?

A. inflation occurs B. there are externalities C. merit goods are produced D. there is excess demand...