Which of the following causes the demand for veggie-burgers to increase?
a. A technological innovation that lowers the cost of producing veggie burgers.
b. An increase in the price of tofu burgers, perceived as a substitute by veggie burger consumers.
c. An increase in the price of burger buns.
d. A decline in the price of veggie burgers.
b
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The equilibrium price will rise and the equilibrium quantity might increase, decrease, or stay the same when the
A) demand and the supply of a good both increase. B) demand for a good increases and the supply of it decreases. C) demand for a good decreases and the supply of it increases. D) demand and the supply of a good both decrease.
How does the Fed decide which monetary measure should be the focus of its monetary policy choices?
A) The Fed would like to track a monetary measure that is most closely related to the market interest rate. B) The Fed would like to track a monetary measure that is most closely related to the quantity of money demanded by economic agents. C) The Fed would like to track a monetary measure that is most closely related to the level of real GDP and the price level. D) The Fed would like to track a monetary measure that is most closely related to government spending.