Which of the following is least likely to increase the demand for new tires?
A. a decrease in the price of tires
B. a decrease in the price of cars
C. an increase in consumer income
D. an increase in the number of miles people drive per year
Answer: A
You might also like to view...
The reserve requirement refers to: a. the fraction of deposits that banks are required by the Fed to hold as reserves
b. the amount of gold required to back up all Federal Reserve notes. c. the requirement that banks reserve part of their lending capacity for small businesses. d. the requirement that Reserve bank presidents be part of the FOMC. e. the Treasury deposits held by the Fed.
A competitive employer will hire inputs up to the point where the:
A. Marginal product of the input reaches a maximum B. Price of the input equals the price of the output C. Price of the input equals the marginal product of the input D. Price of the input equals the marginal revenue product of the input