Multiple Choice
A change in the distribution of income that leaves total income constant will not shift the market demand curve for a product providing:
A) everyone has an income elasticity of demand of zero for the product.
B) everyone has the same income elasticity of demand for the product.
C) individuals have differing income elasticities for the product,but the average income elasticity for income gainers is equal to the average income elasticity for income losers.
D) any of the above conditions occur.
Correct Answer:
Verified
Correct Answer:
Verified
Q7: Price controls<br>A)are always popular with consumers because
Q13: In the long run,the greater burden of
Q15: Per-unit transaction costs<br>A)may cause the demand and
Q22: An increase in the price of good
Q26: If a 1 percent increase in price
Q27: In the short run,a sales tax is:<br>A)wholly
Q30: Long-run producer surplus in a perfectly competitive
Q32: The market demand curve for any good
Q36: Suppose that the price elasticity of demand
Q37: If quantity supplied is either greater or