Which of the Following Events Would Cause Both the Equilibrium

question 36

Multiple Choice

Which of the following events would cause both the equilibrium price and equilibrium quantity of number two grade potatoes to increase if number two grade potatoes are an inferior good?

• A)an increase in consumer income
• B)a decrease in consumer income
• C)greater government restrictions on agricultural chemicals
• D)fewer government restrictions on agricultural chemicals

Understand the purposes and features of different financial services and products, such as certificates of deposit, asset management accounts, and trust accounts.

Recognize the role and impact of financial regulations, such as the Truth in Savings law.

Comprehend the advantages of credit unions over other financial institutions.

Calculate the yield on savings accounts and understand the factors that influence it.

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Definitions:

Cabinet-Level Agencies

Agencies of the U.S. federal government that are under the direct authority of a Cabinet secretary, who serves at the discretion of the President and is part of the Executive branch.

Subpoena Duces Tecum

An order to appear and bring specified documents.

Writ Of Certiorari

A Supreme Court order, issued after the Court decides to hear an appeal, mandating that the lower court send to the Supreme Court the record of the appealed case.

Interstate Commerce Commission (ICC)

The first federal administrative agency; created to regulate the anticompetitive conduct of railroads.