Other things the same, a decrease in the price level makes consumers feel
a. less wealthy, so the quantity of goods and services demanded falls.
b. less wealthy, so the quantity of goods and services demanded rises.
c. more wealthy, so the quantity of goods and services demanded rises.
d. more wealthy, so the quantity of goods and services demanded falls.
c
Economics
You might also like to view...
Which of the following was signed in 1987 and banned the exportation and importation of chlorofluorocarbon compounds (CFCs) and halons?
A. The CITES B. The Uruguay Round C. The Kyoto Protocol D. The Montreal Protocol
Economics
Costs that change as output changes are:
A. fixed costs. B. variable costs. C. sunk costs. D. None of the statements is correct.
Economics