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Author Question: List three things that can cause an increase in demand. Be specific. What will be an ideal ... (Read 221 times)

rosent76

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on: Jun 29, 2018
List three things that can cause an increase in demand. Be specific.
 
  What will be an ideal response?

Question 2

Which of the following do not suffer the costs of inflation?
 
  A) firms that have to devote more time and labor to raising prices
  B) persons on fixed incomes
  C) persons whose incomes rise more rapidly than inflation
  D) an investor that has to pay higher taxes because of the inflation


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Dinolord

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Student responses will vary but may include:
(1.) An increase in income (normal good).
(2.) A decrease in income (inferior good).
(3.) An increase in the price of a substitute good.
(4.) A decrease in the price of a complementary good.
(5.) A change in preferences (the product is more desirable than before).

Answer to Question 2

C


rosent76

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

strudel15

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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