All Else Constant,all of the Following Would Cause the Demand

question 59

Multiple Choice

All else constant,all of the following would cause the demand curve for a good to shift except:

• A)a change in the cost of producing the good.
• B)a change in the price of a related good.
• C)a change in consumer's incomes.
• D)a change in the number of buyers.

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Definitions:

Inflation Rate

How quickly the general pricing level of goods and services rises, making the purchasing power weaken.

Nominal GDP

The market value of all finished goods and services produced within a country in a year, measured in current prices without adjustment for inflation.

Real GDP

The measure of a country's economic output adjusted for price changes (inflation or deflation), reflecting the actual value of goods and services produced.

Nominal GDP

The market value of all finished goods and services produced within a country in a year, not adjusted for inflation.