If the price of ground beef falls, the demand for hamburger buns will
a. increase because the two goods are substitutes
b. decrease because the two goods are complements
c. decrease because the two goods are substitutes
d. increase because the two goods are complements
e. not change unless the price of hamburger buns also changes
D
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The LM curve will shift to the right, if there is a(n):
A) decrease in money supply. B) increase in real money demand. C) increase in money supply. D) increase in output.
Which of the following best describes an assumption economists make about human behavior?
A) They assume that people take into account the question of fairness in all decisions they make. B) They assume that individuals act rationally all the time in all circumstances. C) They assume that rational behavior is useful in explaining choices people make even though people may not behave rationally all the time. D) They assume that individuals act randomly.