Who conducted the study in the 1940s that surveyed entrepreneurs to determine whether they used marginal analysis in choosing their production levels?

Which of the following is most likely to have an income elasticity of demand that is less than 1?

A) movies B) airline travel C) foreign travel D) food E) restaurant meals

A decrease in consumption caused by a factor other than a change in the price level

A) shifts the AD curve to the right. B) shifts the AD curve to the left. C) causes an upward movement along the existing AD curve. D) causes a downward movement along the existing AD curve. E) none of the above.