If Consumer Tastes Are Changing More in Favor of the Consumption

question 322

Multiple Choice

If consumer tastes are changing more in favor of the consumption of a particular good the

• A) market demand curve will shift to the left.
• B) consumer will move up a given demand curve, decreasing the quantity demanded.
• C) consumer would move down a given demand curve, decreasing the quantity demanded.
• D) consumer would move down a given demand curve, increasing the quantity demanded.
• E) market demand curve would shift to the right.

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Definitions:

Union Labor

refers to labor that is represented by a union, which negotiates wages, working conditions, and other employment terms on behalf of its members.

Wage Rate

The amount of money paid to an employee by an employer in exchange for work performed, typically expressed on an hourly, daily, or piecework basis.

Total Productivity

The ratio of total output (goods and services) produced to the total inputs used to obtain that output, measuring efficiency in production.

Union Labor

Workforce that is organized in trade unions which negotiate wages, working conditions, and benefits on their behalf.