The statement "other things being equal" in the law of demand means all of the following remain constant EXCEPT
A) consumer income.
B) the price of the good concerned in the law of demand.
C) the prices of substitutes.
D) tastes and preferences.
Answer: B
Economics
You might also like to view...
When the housing bubble burst, prices fell particularly severely in all of these states except:
a. Arizona. b. California. c. Nevada. d. Florida e. Prices fell severely in all of the above states.
Economics
Social Security payroll taxes are examples of
A. progressive taxation. B. regressive taxation. C. proportional taxation. D. marginal taxes.
Economics