The Table Given Below Reports the Quantity Demanded of a Good

question 37

Multiple Choice

The table given below reports the quantity demanded of a good by individuals 1, 2, and 3 at different prices.Table 3.1

-Which of the following will cause an inward shift in the demand for steaks at a restaurant?

• A)A report by the American Medical Association states that the consumption of steak reduces the risk of cardiovascular disease
• B)A 50 percent reduction in the price of steaks
• C)A double-digit increase in the price of chicken
• D)A recession leading to a significant fall in the income levels of consumers
• E)The expectation that the price of steaks will double within two months

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Definitions:

Stated Value

A value assigned to a share of stock by the corporation’s board of directors, which is an arbitrary value used for accounting purposes.

Par Common Stock

The value assigned to a share of common stock in the company's charter, not indicative of the market value.

Preferred Stock

A class of ownership in a corporation that has a higher claim on assets and earnings than common stock, often with predetermined dividend payments.

Cash

Money in the form of bills or coins, available for transactions or banking.