According to the Application, one reason for the increase in Chinese demand for pecans was
A) the expectation of higher future prices.
B) a decrease in income.
C) an increase in the price of walnuts, a substitute good.
D) an increase in consumer preferences.
D
Economics
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If the Fed lowers the interest rate, then
A) only consumption expenditure decreases. B) only investment decreases. C) both consumption expenditure and investment decrease. D) net exports will increase. E) consumption expenditure decreases and investment increases.
Economics
Firms that make game systems like Playstation and Nintendo typically charge a price close to average cost on the game system itself, and do not change that price even when the systems are scarce or demand increases
Why might this be a profit-maximizing strategy?
Economics