Ceteris paribus, which of the following is most likely to cause an increase in the quantity demanded of perfume?
A. An increase in income.
B. A decrease in the price of perfume.
C. A decrease in tastes for perfume.
D. An increase in the price of electricity.
Answer: B
You might also like to view...
Why does the Federal Reserve System have a high degree of political independence?
(A) The system has only advisory power. (B) The system is owned by the banks. (C) It is divided into geographical districts. (D) The governors are appointed for life terms.
In the mid-1830s, the U.S. entered an inflationary period that culminated in the depression of 1839-1843 . Contemporary economic historians attribute this economic downturn to
a. the demise of the Second Bank of the U.S. in 1832. b. over-issue of gold coins by the U.S. Mint. c. over-expansion by the manufacturing sector. d. external forces, including large inflows of specie from Mexico and Europe.