Which one of the following will shift the Italian consumption curve downward?
a. an increase in Italy's national income
b. a decrease in Italy's national income
c. Italian legislation making credit harder to obtain in Italy
d. lower tax rates in Italy
e. a series of technological breakthroughs occurring at the same time in Italy
C
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Enacting a law controlling rents near a major university will increase the affordable housing for college students
a. True b. False Indicate whether the statement is true or false
The demand for Cheerios cereal is more price-elastic than the demand for cereals as a whole. This is best explained by the fact that:
A. Cheerios are a luxury B. Cereals are a necessity C. There are more substitutes for Cheerios than for cereals as a whole D. Consumption of cereals as a whole is greater than consumption of Cheerios