In Recent Years, There Has Been a Rapid Increase in Consumption

question 169

Multiple Choice

In recent years, there has been a rapid increase in consumption of sushi in Canada and yet, the price of sushi has remained relatively stable.An explanation for this phenomenon could be:

• A)although the demand for sushi has gone up, the supply of fish (an input in the production of sushi) has declined as well.
• B)while the demand for sushi has gone up, the supply of sushi has increase by about the same magnitude and therefore, the price has stayed relatively stable.
• C)while the demand for sushi has gone up, the supply of sushi has decreased by about the same magnitude and therefore, the price has stayed relatively stable.
• D)while the demand for sushi has gone up, the supply of sushi has not changed and therefore, the price has stayed relatively stable.

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Definitions:

Pre-tax Net Annual Savings

The amount of money saved annually before taxes, often resulting from implementing cost-saving measures or efficiency improvements.

Bank Loan

A sum of money lent at interest by a bank to a borrower, usually on collateral security, for a certain period.

Collection Float

The time period between when a check is deposited and when the funds are made available.

Chequing Account

A bank account from which money can be withdrawn without notice, typically used for day-to-day spending and bill payments.