A decrease in the price of ice cream is likely to cause:
A. an increase in the demand for ice cream cones due to a change in the price of a complementary good.
B. an increase in the demand for ice cream cones due to a change in the preferences of consumers.
C. an increase in the demand for ice cream cones due to a change in the price of a substitute good.
D. a decrease in the demand for ice cream cones due to a change in the price of a related good.
Answer: A
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Which of the following decreases the demand for money?
A) an increase in the price level B) an increase in the quantity of money C) a decrease in real GDP D) a decrease in the cost of printing money
If the percentage change in quantity demanded is greater (in absolute value) than the percentage change in price, then demand
a. determines supply b. is indeterminate c. is elastic d. is inelastic e. is unit elastic