Maude Thinks Delphiniums and Hollyhocks Are Perfect Substitutes, One for One.If

question 10

Multiple Choice

Maude thinks delphiniums and hollyhocks are perfect substitutes, one for one.If delphiniums currently cost $4 per unit and hollyhocks cost $5 per unit and if the price of delphiniums rises to $7 per unit,

• A)the entire change in demand for delphiniums will be due to the substitution effect.
• B)1/3 of the change in demand will be due to the income effect.
• C)the income effect of the change in demand for delphiniums will be bigger than the substitution effect.
• D)there will be no change in the demand for hollyhocks.
• E)2/3 of the change in demand will be due to the income effect.

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Definitions:

Glomerular Filtration Rate

A measure of the filtering capacity of the kidneys, indicating how much blood can be filtered by the glomeruli per unit of time.

Inulin

A type of soluble fiber found in various plants, used as a food additive and for medical tests of kidney function.

Creatinine

Creatinine is a waste product generated from muscle metabolism, commonly measured to assess kidney function.

Glomerular Filtrate

The fluid that passes from the blood through the capillary walls of the glomeruli of the kidney during the formation of urine.