Which of the following will not cause a demand curve to shift position?
a. A doubling of the good's price
b. A doubling of the price of a closely substitutable good
c. A doubling of income
d. A shift in preferences
a
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Consider a PPF for tapes and soda. If the opportunity cost of a tape increases as the quantity of tapes produced increases and also the opportunity cost of a soda increases as the quantity of soda produced increases, then the PPF between the two
goods will be A) a straight, downward-sloping line. B) a straight, upward-sloping line. C) bowed outward. D) All of the above are possible and more information is needed to determine which answer is correct.
A less developed country can increase its capital stock by
a. raising taxes on purchases of capital goods b. temporarily accepting unusually high unemployment rates c. reducing government spending d. shifting resources away from production of consumer goods and toward production of capital goods e. providing more opportunities for individuals to spend their accumulated savings